Tag Archives: May Revision

Governor Releases May Revision Budget, Is Silent on a Statewide Bond

May 13, 2014

Today the Governor released the May Revision budget update.  His budget estimates an additional $2.4 billion in revenues from 2012-13 through 2014-15.  This increases the Proposition 98 minimum guarantee by $659 million.

The Governor continues to prioritize fiscal restraint and addressing long-term debts.  As such, the May Revision is silent on the possibility of a new statewide bond on the November ballot.  It also does not include any modifications or additional comments on the school facilities proposals made in the January budget: $188.1 million for the Emergency Repair Program, and the transfer of $211 million in remaining bond authority from four specialized programs to the main New Construction and Modernization programs.   Continue reading