Common Contracts
2 similar Budget Agreement contracts
Final budget agreement for 2024-25 includes critical funding for schools and community colleges, addresses large deficitBudget Agreement • August 7th, 2024
Legislative leaders and the governor reached agreement on a 2024-25 budget package on June 22, which they describe as supporting fiscal stability while preserving key programs. The $297.9 billion deal includes $211.4 billion in General Fund expenditures and a Prop. 98 minimum guarantee of $115.3 billion for 2024-25. It incorporates a multi-year approach that Gov. Newsom proposed in his May Revise, with a balanced budget projected for both 2024-25 and 2025-26. The deal largely protects education funding, with a fully funded statutory COLA (1.07%) for TK-12 and community colleges, as well as increased base funding for the University of California. The controversial Proposition 98 funding maneuver that was initially proposed by Gov. Newsom is not included in the enacted budget; instead, the agreement will result in higher funding levels in the short- and long-term.
Final budget agreement for 2024-25 includes critical funding for schools and community colleges, addresses large deficitBudget Agreement • July 24th, 2024
Legislative leaders and the governor reached agreement on a 2024-25 budget package on June 22, which they describe as supporting fiscal stability while preserving key programs. The $297.9 billion deal includes $211.4 billion in General Fund expenditures and a Prop. 98 minimum guarantee of $115.3 billion for 2024-25. It incorporates a multi-year approach that Gov. Newsom proposed in his May Revise, with a balanced budget projected for both 2024-25 and 2025-26. The deal largely protects education funding, with a fully funded statutory COLA (1.07%) for TK-12 and community colleges, as well as increased base funding for the University of California. The controversial Proposition 98 funding maneuver that was initially proposed by Gov. Newsom is not included in the enacted budget; instead, the agreement will result in higher funding levels in the short- and long-term.
