Governor Gavin Newsom Released Updated Budget Proposal
May 15, 2023
Dear LACCD Colleagues
Last Friday, Governor Gavin Newsom released his updated budget proposal, commonly known as the May Revision for the 2023-24 fiscal year. The Governor's January budget proposal was already austere, and the updated budget proposal continues a conservative approach to budgeting. With tax returns in many counties not due until October, this budget takes a cautious approach. This May Revision proposal lowers the General Fund tax revenue estimates for 2021-22, 2022-23, and the budget year 2023-24. This, in turn, reduces the Proposition 98 Guarantee, which determines the funding level for K-12 schools and community colleges. This May Revision will kick off budget negotiations between the Legislature and the Administration, as the Legislature must approve a final budget by June 15.
