state economic outlook
DESCRIPTION
State Economic Outlook. Legislative Analyst’s Office Presented to: California Association of Chief Business Officers April 3, 2014. www.lao.ca.gov. State Budget. Governor’s Budget Expenditures. (Dollars in Millions). Governor’s Budget General Fund Condition. - PowerPoint PPT PresentationTRANSCRIPT
![Page 1: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/1.jpg)
State Economic Outlook
Legislative Analyst’s Office
Presented to: California Association of Chief Business Officers
April 3, 2014
www.lao.ca.gov
![Page 2: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/2.jpg)
2
State Budget
![Page 3: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/3.jpg)
Governor’s Budget Expenditures(Dollars in Millions)
3
![Page 4: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/4.jpg)
Governor’s Budget General Fund Condition
Includes Education Protection Account (In Millions)
4
![Page 5: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/5.jpg)
Comparing State Revenue ForecastsGeneral Fund and Education Protection Account Combined (In Billions)
5
![Page 6: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/6.jpg)
S&P 500 Index Rose Notably During 2013
6
![Page 7: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/7.jpg)
7
Education Budget
![Page 8: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/8.jpg)
Proposition 98 Minimum Guarantee(In Billions)
8
![Page 9: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/9.jpg)
Governor Proposes to Pay Down All Outstanding K-12 Deferrals
(In Millions)
9
![Page 10: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/10.jpg)
Major 2014-15 K-12 Proposals(In Millions)
10
![Page 11: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/11.jpg)
11
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
![Page 12: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/12.jpg)
K-12 Per-Pupil Funding
12
![Page 13: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/13.jpg)
Proposition 98 Wall of Debt Plan(In Billions)
13
![Page 14: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/14.jpg)
14
Key Issues
![Page 15: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/15.jpg)
15
Proposition 98 Reserve
Makes Deposits When Capital Gains Revenues Strong
Makes Withdrawals When Guarantee Insufficient to Fund Growth and Cost-of-Living Adjustment
Intent to Stabilize Funding Laudable Formula Unlikely to Have Significant Effect
![Page 16: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/16.jpg)
16
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
![Page 17: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/17.jpg)
17
Use of One-Time Monies
Proposition 98 Funds• Deferral paydowns.• Mandate backlog.• Emergency Repair Program.
Non-Proposition 98 Funds• CalSTRS liabilities.• Deferred maintenance.
![Page 18: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/18.jpg)
18
Other Education Issues
Career Technical Education Independent Study Home-to-School Transportation Education Mandates Deferred Maintenance Restructuring Child Care System
![Page 19: State Economic Outlook](https://reader035.vdocument.in/reader035/viewer/2022062501/568168b7550346895ddf967e/html5/thumbnails/19.jpg)
Visit the LAO website at:www.lao.ca.gov
19