Tuesday, May 14, 2013

California 2013-14 fiscal year revenue mixed, budget winner is education

San Francisco Chronicle/Associated Press, Judy Lin, 5/14/13.  "Federal cuts lower California budget outlook."

"SACRAMENTO, Calif. (AP) — Despite surging state tax revenue, Gov. Jerry Brown on Tuesday announced a spending plan for the coming fiscal year that is $1.2 billion lower than he projected in January.

Kids can learn, why can't adults?
....  The forecast for growth of personal income is lower because the federal government did not extend a 2 percent payroll tax reduction. That reduced the projections for personal income growth for the coming year in half, to 2.2 percent.  The governor's budget document says the federal government spending cuts — the so-called sequester — also helped erode the budget projections for the fiscal year that starts July 1.

....   His general fund budget of $96.4 billion still invests heavily in education, thanks to a big haul of state tax revenue.  ....  K-12 spending is projected to rise from $47.3 billion in the 2011-12 fiscal year, Brown's first budget since reclaiming the governor's office, to $66.5 billion in the 2016-17 fiscal year. His budget provides $1,046 more per student in the coming fiscal year." 

....  Brown's budget proposal now goes to the Legislature, which has a June 15 deadline to pass a spending plan."   Read Article.

Note:  Photograph from Education Centers.

Posted by Kathy Meeh

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