On July 28, the Governor signed legislation making significant revisions to the 2009-10 state budget. The revised budget allocates $85 billion in State General Fund spending, down from the $92 billion in the budget approved by the Governor and Legislature in February. This budget revision also captures some savings from the just-completed 2008-09 fiscal year. These revisions were necessitated by continuing weakness in the economy resulting in declining state revenues. The revised 2009-10 budget lowers General Funds by $813 million for the University of California and by $718 million for California State University. It reduces Proposition 98 funding for the community colleges by $812 million through a combination of cuts and deferrals, but provides full funding for the Cal Grant student financial aid programs. (Contains 2 tables.)