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All right, madam vice chair. Sorry everyone, for the difficulties. All right. For members of the public, we are on item number two. Public comment has been closed and we were taking action on the july 21st minutes. Madam vice chair. Um, i believe commissioner williams moved to approve the minutes. Oh commissioner preston moved to approve the minutes. Do i have a second . Second . All right. On the motion moved by commissioner preston, seconded by commissioner williams. Commissioner preston. Hi, preston. I commissioner williams i. Williams i vice chair fielder i fielder i. There are three eyes....

Prove by you crime active as much and you, youll demanding an interesting fuels the head of a week of climate tolts at the United Nations. And how should i have the bottom law in the us, the its a big day for students. 1030. 00 back shift schools are opening today in a bit to bring mine back in school of fiji for do use the think its a shock of these like be well comp, sorry, photos by deed australia plus all england heading into the quota photos. Its now 2 weeks from 2, as i see of japan. The weve been getting this news out here in doha. Were a major prison. This wont between the us. And the ...

All right, madam vice chair. Sorry everyone, for the difficulties. All right. For members of the public, we are on item number two. Public comment has been closed and we were taking action on the july 21st minutes. Madam vice chair. Um, i believe commissioner williams moved to approve the minutes. Oh commissioner preston moved to approve the minutes. Do i have a second . Second . All right. On the motion moved by commissioner preston, seconded by commissioner williams. Commissioner preston. Hi, preston. I commissioner williams i. Williams i vice chair fielder i fielder i. There are three eyes....

All right, madam vice chair. Sorry everyone, for the difficulties. All right. For members of the public, we are on item number two. Public comment has been closed and we were taking action on the july 21st minutes. Madam vice chair. Um, i believe commissioner williams moved to approve the minutes. Oh commissioner preston moved to approve the minutes. Do i have a second . Second . All right. On the motion moved by commissioner preston, seconded by commissioner williams. Commissioner preston. Hi, preston. I commissioner williams i. Williams i vice chair fielder i fielder i. There are three eyes....

I think we passed out the larger format of the budget people are rummaging through but let me begin as we often do with a slide that has become more and more familiar, not just to those who have been to previous presentations but for californians. For decades and decades, weve come to expect the unexpected as it regards to the volatility of the tax system. You can see the orange line, those are the big three revenues. It. Looks like an ekg chart. It goes up during good times and down during bad times. It reflects i think the larger narrative of todays presentation and that is a story of correc...