May 23, 2023

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May Revise

2-4pm 

Hosted at CCCOE

Presented by Capitol Advisors in collaboration with ACSA, CSBA, SSDA, AALRR and CLIMATEC

Register HERE

In response to the looming revenue shortfall, the Governor and Legislature took early actions to reduce the revenue problem by about $17 billion.

After rapid revenue growth and record-breaking General Fund (GF) and Proposition 98 spending over the last few years, this downturn or leveling off is not unexpected. Fortunately, both the GF and Prop. 98 have healthy reserves built up, so some of the shortfall can easily be managed. Having said that, if additional revenue and expenditure adjustments are necessary, all options will be on the table. If the shortfall is larger than hoped, we may see proposals to increase some of the GF borrowing schemes proposed in January and/or a return to principal apportionment deferrals as alternatives to making large cuts to existing programs.

Proposed funding and programs in the May Revision will be discussed, as well as advocacy plans related to:

• Maintaining LCFF gains and critical ongoing programs

• Adopting state fiscal policies that will minimize disruption to students and classrooms

• Funding, policy and implementation issues related to expanded learning, TK, universal meals, community schools, special education, etc. 

• The political dynamics that will impact the Legislature’s consideration of the Governor’s proposal