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Overview of General Fund Revenues and Expenditures
Proposition 98
In 2007-08 Proposition 98 funding increases by $1.8 billion over the revised 2006-07 level to $56.8 billion. The General Fund contribution to Proposition 98 increases by $377.9 million to $41.2 billion. This is equal to 40 percent of total General Fund expenditures in 2007-08. The Budget includes a $300 million settle-up appropriation of which $268 million will be provided to approximately 450 to 500 school sites for class size reduction, maintaining counselor-to-student ratios at 300:1, and professional development. The other $32 million will be provided to the community colleges for Career Technical Education programs. The Budget also proposes to shift the fund source for the $627 million Home-to-School Transportation program from Proposition 98 General Fund to the Public Transportation Account (PTA), allowing for the guarantee to be rebenched downward for General Fund savings of $627 million.
CHAPTER HIGHLIGHTS for
Overview of General Fund Revenues and Expenditures Back to Top
BUDGET OVERVIEW Back to Top
Introduction
When Governor Schwarzenegger took office in November of 2003, the state faced a structural budget crisis of unprecedented proportions. A review of state finances projected that California was on a path to spend $16.5 billion more than the General Fund revenue it would take in this year. In contrast, the Governor's Budget for 2007-08 proposes to limit General Fund spending to the amount of revenue the state will collect, with the exception that it proposes to use $840 million of funds available from previous years to pre-pay debt. By eliminating the state's net operating deficit, by setting aside a total reserve of $2.1 billion and by eschewing tax increases and new budgetary borrowing, this budget puts California on the path to full fiscal recovery.
Budget Summary Improvements
As part of the Administration's effort to improve the understanding and comparability of budget expenditure data, the 2007-08 Governor's Budget Summary will now follow a more traditional agency format. In the past, some content in the Governor's Budget Summary was arranged by major program areas rather than by agency. Budget expenditure data will be displayed in both a summary format and a new agency change table format. The change tables are intended to provide the reader a snapshot of proposed expenditure and position adjustments in each agency, why those changes are being proposed, and their dollar and position impact.
PRINTABLE BUDGET DOCUMENTS Back to Top
Budget Summary - Overview of General Fund Revenues and Expenditures (pdf * - 30K)
- Provides this entire Overview of General Fund Revenues and Expenditures Chapter in pdf format.
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