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Posted by / 15-Nov-2017 11:28

Specifically, the budget package: constitutionally guarantees a minimum level of funding for K-12 schools, community colleges, and the state preschool program.

The 2017-18 budget agreement assumes the same Prop.

98 funding levels for 2015-16 (.1 billion) and 2016-17 (.4 billion) as the May Revision, and a 2017-18 Prop.

98 funding level of .5 billion, slightly lower ( million) than the May Revision. 98 guarantee tends to reflect changes in state General Fund revenues, and while the May Revision’s estimates of 2015-16 revenues were up relative to assumptions in January’s budget proposal, the May Revision’s 2015-16 Prop.

Of the 7.7 billion in projected General Fund revenues,

Specifically, the budget package: constitutionally guarantees a minimum level of funding for K-12 schools, community colleges, and the state preschool program.The 2017-18 budget agreement assumes the same Prop.

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Specifically, the budget package: constitutionally guarantees a minimum level of funding for K-12 schools, community colleges, and the state preschool program.

The 2017-18 budget agreement assumes the same Prop.

98 funding levels for 2015-16 ($69.1 billion) and 2016-17 ($71.4 billion) as the May Revision, and a 2017-18 Prop.

98 funding level of $74.5 billion, slightly lower ($77 million) than the May Revision. 98 guarantee tends to reflect changes in state General Fund revenues, and while the May Revision’s estimates of 2015-16 revenues were up relative to assumptions in January’s budget proposal, the May Revision’s 2015-16 Prop.

Of the $127.7 billion in projected General Fund revenues, $1.8 billion is taken “off the top” and transferred to the Budget Stabilization Account (BSA), the state’s constitutional “rainy day fund.” California voters revised the rules that apply to the BSA by passing Proposition 2 in November 2014. 2 requires an annual set-aside equal to 1.5 percent of estimated General Fund revenues.

An additional set-aside is required when capital gains revenues in a given year exceed 8 percent of General Fund tax revenues.

.8 billion is taken “off the top” and transferred to the Budget Stabilization Account (BSA), the state’s constitutional “rainy day fund.” California voters revised the rules that apply to the BSA by passing Proposition 2 in November 2014. 2 requires an annual set-aside equal to 1.5 percent of estimated General Fund revenues.

An additional set-aside is required when capital gains revenues in a given year exceed 8 percent of General Fund tax revenues.

The budget package makes no increases in basic income support for low-income seniors and people with disabilities (SSI/SSP) and lacks any proposals to address California’s affordable housing crisis.

This year’s budget agreement includes a number of improvements over earlier proposals, though the overall scope of state investments remains constrained by uncertainty about potential federal policy changes.

The 2017-18 budget package: The budget package sets aside .6 billion as constitutionally required by Prop.

Both of these issues remain a priority for the Governor and he intends to focus on them in the next month.

Matt Cate, CSAC’s executive director, released the following statement: “The Governor’s budget proposal recognizes that while revenue is up, there are still economic uncertainties and being prudent with the resources we have now is the key to long-term stability.

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