Budget highlights | TheUnion.com
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Budget highlights

Size: $99.1 billion all funds, same as last year.

Largest sectors:

K-12 education, $30.3 billion



Health, human services, $24.6 billion

Community colleges, universities, $8.7 billion




Major revenue sources:

Personal income tax, $38 billion

Sales tax, $25 billion.

Corporate taxes, $7.6 billion

Revenue forecast from taxes and licenses:

Up $2.9 billion from this year.

Cost cutting, transfers and savings:

$14.3 billion

Includes:

– $4.6 billion in general fund spending cuts – $999 million from the state business, housing and transportation agency, $880 million from Medi-Cal health insurance plan for the poor and disabled, $787 million from state welfare programs, $728 million from colleges and universities, $536 million from other health and human services and $438 million from youth and adult prisons.

– $3.9 billion in borrowing.

– $1.3 million in support for cities and counties not delivered.

– $1 billion in fund shifts

– $947 million in gasoline taxes not provided for transportation spending

– $2 billion from temporary suspension of education’s guaranteed spending level.

Leftover deficit:

Zero, assuming that voters approve a $15 billion bond issue in March.


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