May 14, 2015
Issue #48

Editor's Note

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Governor Releases Revised FY 2015-16 Budget with General Fund Revenues $6.7 Billion Higher than January Budget

Cap and Trade Allocations Rise to $2.2 Billion; Additional Funds for Drought Relief; Analysis of Revised Redevelopment Proposal Pending Language Review

Gov. Jerry Brown took to the podium in the Capitol at 10 a.m. this morning to deliver his May Budget Revise for FY 2015-16. As usual, he surrounded himself with large charts illustrating the state’s fiscal picture current and historic. Compared to the January projections, revenues for FY 2013-14, FY 2014-15, and FY 2015-16 have increased and the state projects an additional $6.7 billion through the end of the coming fiscal year. Under Proposition 98, the majority of that money will go to K-12 and community colleges. The Governor presented the upswing in state revenues with caution, warning that the next recession is likely just around the corner. The revised budget comprises $115.03 billion of General Funding in a total budget of $162.5 billion.

State Budget, Revenue and Taxation, Municipal Finance

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