May 12, 2014
I wanted to let you know that Governor Jerry Brown will release his proposed May Revision to the proposed 2014-15 State Budget tomorrow morning at 9 a.m. You can watch the press conference live atwww.calchannel.com.
The revision is expected to contain significant new revenues, as current year revenues currently outpace projections by $2.2 billion.
However, it is unclear how much will be attributed to the Proposition 98 guarantee and thus available to community colleges. We do know that the cost-of-living calculation changed a minuscule amount, revised downward from 0.86% to 0.85%.
Additionally, the revised spending plan comes on the heels of a deal between the governor and legislative leaders on a "Rainy Day" fund ballot measure to replace one already on the November ballot.
We will get you details on the May Revision tomorrow as they become available.
President and Chief Executive Officer, The League
Orange Coast College '94