Gov. Jerry Brown and legislative leaders agreed to a new state budget for next year, they announced in a joint statement Friday morning.
The agreement’s details have yet to be formally released. It includes $500 million for efforts to prevent homelessness, according to a source involved in the negotiations who was not authorized to speak publicly.
That funding is higher than the $359 million Brown had proposed in his May revision to the budget, but less than the more than $1 billion Democrats in the Senate and Assembly had requested.
“After detailed discussions, California is on the verge of having another on-time, balanced budget,” Brown said in a statement.
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