state budget update - california legislative analyst's office · state budget update...
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State Budget Update
Legislative Analyst’s Office
Presented to:
California County Superintendents Educational Services Association
February 21, 2014
www.lao.ca.gov
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State Budget
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Governor’s Budget Expenditures
(Dollars in Millions)
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Governor’s Budget General Fund Condition
Includes Education Protection Account (In Millions)
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Comparing State Revenue Forecasts General Fund and Education Protection Account Combined (In Billions)
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S&P 500 Index Rose Notably During 2013
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Education Budget
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Proposition 98 Minimum Guarantee
(In Billions)
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Governor Proposes to Pay Down All Outstanding K-12 Deferrals
(In Millions)
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Major 2014-15 K-12 Proposals
(In Millions)
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Second-Year Implementation of Local Control Funding Formula
$45.5 Billion
80 Percent Funded
11 Percent Increase From 2013-14 Level
Closes 28 Percent of Gap to Target Level
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K-12 Per-Pupil Funding
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Proposition 98 Wall of Debt Plan
(In Billions)
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Key Issues
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Assessment of Governor’s Budget
Mix of One-Time and Ongoing Spending
Reasonable
Wall of Debt Plan Reasonable
LCFF Increase Keeps Implementation on
Track
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Proposition 98 Reserve
Makes Deposits When Capital Gains
Revenues Strong
Makes Withdrawals When Guarantee
Insufficient to Fund Growth and COLA
Intent Laudable
Execution Poor
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CalSTRS Unfunded Liabilities
Longstanding Funding Problems
Focus on 30-Year Funding Plan
Set Aside Some Money Now
Examine State’s Role Now and in Future
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Other Issues
Home-to-School Transportation
Education Mandates
Deferred Maintenance
Financing School Facilities
Career Technical Education
Independent Study
Restructuring Child Care System
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