From LAO report on May Revise:
In program terms (excluding deferrals and funding swaps), the May Revision reduces K12 education by $2.8 billion and CCC by $820 million over the 200809 and 200910 period. These program reductions would be mitigated by the federal economic stimulus funding available to California. For K12 education, California will receive approximately $6.3 billion in federal stimulus funding over this period. As a result, compared to the February funding level, K12 funding, on average, would increase by about $600 per pupil.
Also, because of ARRA, if the state's revenue situation were to further deteriorate and the Proposition 98 minimum guarantee were to fall, however, the state could be constrained in its ability to further reduce K-14 spending.
As posted on the LAO website, "The Legislative Analyst's Office (LAO) is a nonpartisan "