DOF Issues March 2021 COVID-19 Fiscal Update
This week, the California Department of Finance (DOF) released its March 2021 fiscal update on COVID-19 direct response expenditures. The report provides expenditure assumptions and cost estimates as of this month compared to the Governor’s 2021-22 Budget estimate released in January. DOF estimates the state’s combined total costs for its COVID-19 response across fiscal years 2019-20, 2020-21, and 2021-22 reach $15.1 billion with an estimated net General Fund impact of approximately $1.9 billion.
DOF outlines cost estimates by potential fund source and indicates significant expenditure increases in vaccine distribution and administration. DOF notes the expansion of infrastructure for state vaccine distribution and administration activities has resulted in an additional $1 billion in costs to the state, primarily through supporting state and local vaccine sites, administering the statewide provider network, and conducting media outreach to encourage vaccinations.
The full DOF March 2021 update is available here.