The approved $308 billion governor’s budget includes a significant increase in funding for K-12 programs.
Budget includes:
- Proposes approximately $1.3 billion one-time General Fund in 2022-23 and $925 million one-time General Fund in 2023-24 to support new construction and modernization projects through the School Facility Program.
- Total funding of $119 billion ($70.5 billion General Fund and $48.5 billion other funds) for all K-12 education programs.
- A LCFF cost-of-living adjustment of 5.33%.
- K-12 per-pupil funding totals $15,261 Proposition 98 General Fund – highest level ever – and $20,855 per-pupil when accounting for all funding sources.
- A payment of $3.1 billion in 2022-23 into the Public School System Stabilization Account, resulting in a total balance of more than $9.2 billion with 2020-21 and 2021-22 payments.
