This section provides information about California's Education budget. 2008-09 Funding: The governor declared a fiscal emergency on January 10 and the education budget is facing cuts. Get an impartial view of this rapidly changing situation from our 2008-09 Budget page. See 2008-09 Budget  Frequently Asked Questions: Get answers to some commonly asked questions about California's school finance system and the state's education budget. See Frequently Asked Questions 2007-08 Funding: Read about the 2007-08 education funding budget in EdSource's annual update. See 2007-08 Funding Prior Years Funding: Highlights for 2006-07 For a robust explanation of K–12 and community college funding for 2006–07, download the EdSource report School Finance 2006-07: State Leaders Settle Up with Education. For a brief overview of K–12 and community college funding, download this 2-page summary, Highlights: School Finance 2006-07 [PDF]. For a list of categorical programs and the amount of funding the state and federal governments provided, go to 2006-07 State and Federal Education Money Earmarked for Special Purposes. Budget Cycle: See a calendar of the budget process in California. See Budget Cycle