2015-16 Budget Year
July 31, 2015
The final 2015-16 state budget reflects increased funding in all areas of education. Proposition 98 funding, at $68.4 billion, increased by $7.6 billion compared to the 2014-15 Budget Act. Over $7 billion in debt was eliminated, including $1 billion in K-12 deferrals and $4.5 billion of mandated reimbursements to school and community college districts, and local governments.
June 1, 2015
The May Revision reflects growing revenues and significantly increased funding for education. Proposition 98 receives the majority of new revenue, and as of the May Revision, is projected at $68.4 billion (up from $65.7 billion in January).
Gov. Brown’s proposed budget for 2015-16 includes increased funding for all divisions of public education. He proposes a total general fund of $113.3 billion and assumes a $4 billion increase in overall revenue through June 2016. Compared to the previous year’s budget, the governor proposes an increase of $7.8 billion for K-14 education with a total of $65.7 billion coming in from Proposition 98. The governor also pays down all remaining deferrals for both K-12 and community college districts.