Today California’s Governor Brown published the 2013-2014 Budget and the summary can be viewed here FULL BUDGET SUMMARY. The budget shows an increase in monies allocated to our educational system which has been sorely needed. Here is a general breakdown provided by the Associated Press.
The Top Budget Numbers
How the money is spent:
$97.6 billion general fund, a 5 percent increase over the current fiscal year.
$145 billion total budget, which includes $40.9 billion in special funds dedicated to a particular purpose and $7.2 billion in bond funding.
$56.2 billion for K-12 schools and community colleges, $2.7 billion more than in the current fiscal year.
$11.1 billion for higher education, a 13.6 percent increase. It includes $250 million more for each the UC and CSU systems.
$28.3 billion for Health and Human Services.
$8.8 billion for state prisons, a slight increase.
$2.5 billion for natural resources and environmental protection, about the same as the current year.
$645 million for housing, and business and consumer services, a nearly 200 percent increase.
$207 million for transportation, a 13 percent increase.
$1 billion rainy day fund.
Where the money comes from:
$61.7 billion from personal income taxes, a 1.8 percent increase.
$23.2 billion from sales and use taxes, a 12.3 percent increase.
$9.1 billion from corporation taxes, 20.4 percent increase.
$2.2 billion from insurance taxes, an 8.7 percent increase.
$326 million from liquor taxes, a 1.9 percent increase.
$89 million from tobacco taxes, 2.2 percent decrease.
$23 million from vehicle fees, a 3 percent decrease.
SOURCE: The Associated Press