The Latest: California governor signs $139 billion budget

SACRAMENTO, Calif. (AP) - The Latest on the California state budget (all times local):

10 a.m.

California Gov. Jerry Brown has signed a $139 billion budget he says fulfills his promise to resolve the fiscal crisis he inherited eight years ago and “prepares us for the future.”

He signed his 16th and final spending plan Wednesday alongside legislative leaders in Los Angeles. Brown leaves office early next year after a record four terms, first serving in the 1970s and 1980s and again since 2011.

The budget uses a massive surplus to tackle the state’s housing crisis, increase social services for people in need and sock away billions for a future economic downturn.

It boosts the state’s savings to $16 billion, increases monthly welfare grants and creates more slots for subsidized child care. It also boosts funding for higher education to stave off tuition increases at California State University and the University of California.

Brown did not have any line-item vetoes.

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12 a.m.

California Gov. Jerry Brown is preparing to sign a $139 billion budget, marking a stark turnaround from the state he inherited in the throes of a financial crisis.

Brown will sign a spending plan Wednesday in Los Angeles that boosts state savings to $16 billion thanks to a massive budget surplus.

The budget boosts funding for higher education and increases welfare grants that have been slow to return to their pre-recession levels. It creates more slots for subsidized child care and gives a raise to doctors and dentists who see low-income patients on the state Medicaid program, Medi-Cal.

Brown will appear alongside Assembly Speaker Anthony Rendon and Senate President Pro Tem Toni Atkins, the top legislative Democrats with whom he negotiated the final budget agreement.