Each year the Governor and Legislature work together to pass the state’s annual budget that determines how our taxes will be spent on state-funded programs like education, healthcare, and human services. The primary state fund is the General Fund, though total state funding also includes special and federal funds.
The California Constitution requires the legislature to pass a balanced budget each year, in which expected revenues meet or exceed expected expenditures. The budget process begins by the Governor releasing his or her proposed budget on January 10th of a given year, and the deadline to pass the budget is June 15th. The 2023-24 fiscal year begins on July 1, 2023 and will end June 30, 2024. The final 2023-24 budget will be called the 2023 Budget Act.
2023-24 MAY REVISION BUDGET: $306 billion in total state funds
Graphic from the California Department of Finance