Includes: "Despite the ongoing global pandemic and its disparate health and economic impacts on Californians, revenues are growing at historic rates and we estimate the state will have a $31 billion surplus (resources in excess of current law commitments) to allocate in 2022‑23. [Emphasis added] ... The term 'surplus' means the difference between projected revenues and spending under current law and policy. Consequently, the surplus reflects our assessment of the budget’s capacity to pay for existing and—potentially—new commitments." Sheila's note: I guess they don't consider the $107.5 billion unfunded pension liability and the $113.9 billion of unfunded retiree health liability "committments."