Earlier this week, the California Legislature passed our 2022-23 state budget, setting a sustainable course that invests in California and takes steps to protect our resources from future economic downturns. I’m proud that this is a budget that reflects our values with historic levels of funding for our schools and universities and expanded access to health care as well as investments in housing, transportation and economic relief for millions of Californians and small businesses. It’s also a responsible budget that allocates a significant portion of revenues to our reserves. In fact, the budget nearly doubles our reserves to $37.8 billion. I’d like to share with you some highlights from the budget, what it means for you and our community, and our next steps.