In order to pass a budget in California, it requires a 2/3 'rds "super-majority" vote in the legislature. As a result, expediting and/or facilitating cuts and compromise are nearly impossible under such a restriction.
Meanwhile, the Economy of the world's 10th largest economy continues to "tank" and tax receipts continue to dwindle; hence the cash-flow issue.
And just to give you an idea of the sheer magnitude of the raw numbers . . . the 10 UC campuses and their medical schools, labs, etc, along with the State College system, and Junior College system operate under a $43 BILLION DOLLAR budget.
Compare and contrast that with Texas, which spends $19 billion on higher education.