Image
![](/sites/default/files/styles/extra_large/public/16744/2024-07/screenshot_2024-07-09_191301.png.jpg?itok=FHtUFvKs)
Join Next 10 for a webinar to learn more about the proposed 2024-25 budget and the state's priorities through an interactive exercise that allows you to craft your own state budget.
Register to join the webinar on Thursday, July 25th at 11am PT by clicking the button below:
Registration (gotowebinar.com)
Following large surpluses in 2021-22 and 2022-23 due to higher than expected revenue and federal COVID relief funds, the state faced a projected deficit of $20.4 billion in 2024-25 following the May Revision. This is a result of lower-than-expected General Fund revenue and the expiration of the state and national COVID emergency orders. The Governor and Legislature agreed on a number of one-time and ongoing spending changes to maintain funding for long-standing state priorities—such as healthcare, housing, homelessness, and education—while still closing the deficit in 2024-25. The California Constitution requires the state to pass a balanced budget, so changes have to be made to close the gap.
In order to address the large deficit, the State will commit to a number of spending cuts and delays while also pulling from reserves. The 2024-25 fiscal year began on July 1st.
Major Components of the Final 2024-25 Budget Agreement:
While the budget seeks to address the budget shortfall by making a number of cuts from various programs, the legislature has pushed forward a number of bond initiatives that will appear on the November ballot. The following bonds will go to voters to lessen the burden of budget cuts on certain sectors:
Learn more about the state's priorities and the 2024-25 budget by joining us Thursday, July 25th at 11 am PT for an interactive webinar that will provide an overview of this year's budget process and let you try your hand at creating your own state budget.