SACRAMENTO — Here, at a glance, are highlights of the 1987-88 state budget signed Tuesday by Gov. George Deukmejian:
Size--Includes $40.5 billion in state funds. Federal funds bring the total to $55.9 billion.
Taxes--Balanced without new taxes.
Vetoes--Deukmejian vetoed $662.6 million in state funds and $110.9 million in federal money.
Spending limit and rebate--State revenues in 1986-87 were $1.1 billion beyond the spending limit approved by voters in 1979. The excess must be returned to taxpayers within two years under the state Constitution. Deukmejian proposes a 15% one-time income tax rebate. The 1987-88 budget falls $45 million below the limit and no surplus is projected.
Reserve--Has a $1-billion reserve for fiscal emergencies.
Education--Gives elementary and secondary schools an increase of 2.7% in general funds. Deukmejian vetoed $86.6 million in aid for urban and disadvantaged students, but left intact a program for gifted youngsters. Community colleges get a 7.1% increase in general funds. The increase for the University of California is 6.2%. The California State University system's increase is 6.9%.