California State Budget Update — May Revision News

The California May Budget revision released on May 14, 2015 estimates an additional $6.7 billion in revenues above January proposal estimates. In total, $5.5 billion will go to K-12 and community colleges.
 
In a recent Cabinet report entitled Brown’s Revised Plan Backs Schools Claim to Surplus, Brown is quoted: “I can say very definitely, the state is on the rebound from just a few years ago when it was mired in red ink – a $20 billion structural deficit going into the future as far as the eye can see. The finances of California have stabilized. We’re balancing our budget and just since January several billion dollars have come into the state treasury.”