California budget surplus grows after accounting revisions

California's budget has more funds than projected due to accounting errors by Governor Newsom's administration. Two errors related to the state's retirement system, CalPERS, totaling $2 billion, were identified. This corrects a previously projected $2.9 billion shortfall. Legislative leaders were aware of the miscalculation for months but did not disclose it publicly. The administration disputes it was an error, calling it a revision.