Newsom projected a drop of $1.5 billion below the $110.4 billion the Legislature approved last June for Proposition 98, the formula that apportions how much of the state’s General Fund goes to TK-12 and community colleges.
He said that the state would meet the statutory requirement to pay a projected 8.1% cost of living adjustment, the highest rate in four decades. School organizations have reiterated that funding COLA would be their top budget priority this year.
“That’s a number I never expected to see…” Newsom said. “It’s an expression of our commitment to equity.”; Click here to read more: https://edsource.org/2023/california-schools-community-colleges-face-first-drop-in-funding-in-a-decade/683923