The 2022-23 Budget: Local Control Funding Formula

Jan 28, 2022 - Using this data and our updated projections, we estimate the COLA for 2022‑23 will be closer to 6.17 percent. Covering this higher COLA rate for LCFF would cost approximately $2.6 billion, an increase of $500 million compared with the estimate in the Governor’s budget.
https://lao.ca.gov/Publications/Report/4505