Last week, the Legislative Analyst’s Office (LAO) released an Overview of the Governor’s Budget. The full report can be viewed here.

Given the severity of the state’s fiscal crisis, the LAO recommends that the Legislature and governor agree to a framework to solve much of the budget problems by the end of March.

In addition, the governor’s budget proposal seeks $6.9 billion in federal funds, which the LAO believes is overly optimistic.

“While the odds seem favorable for some federal relief sought by the administration, we believe that the likelihood of Washington agreeing to all of the governor’s request is almost non-existent.”