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State Budget Update

State Budget Update. Legislative Analyst’s Office Presented to: California County Superintendents Educational Services Association February 21, 2014. www.lao.ca.gov. State Budget. Governor’s Budget Expenditures. (Dollars in Millions). Governor’s Budget General Fund Condition.

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State Budget Update

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  1. State Budget Update Legislative Analyst’s Office Presented to: California County Superintendents Educational Services Association February 21, 2014 www.lao.ca.gov

  2. State Budget

  3. Governor’s Budget Expenditures (Dollars in Millions)

  4. Governor’s Budget General Fund Condition Includes Education Protection Account (In Millions)

  5. Comparing State Revenue Forecasts General Fund and Education Protection Account Combined (In Billions)

  6. S&P 500 Index Rose Notably During 2013

  7. Education Budget

  8. Proposition 98 Minimum Guarantee (In Billions)

  9. Governor Proposes to Pay Down All Outstanding K-12 Deferrals (In Millions)

  10. Major 2014-15 K-12 Proposals (In Millions)

  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

  12. K-12 Per-Pupil Funding

  13. Proposition 98 Wall of Debt Plan (In Billions)

  14. Key Issues

  15. Assessment of Governor’s Budget • Mix of One-Time and Ongoing Spending Reasonable • Wall of Debt Plan Reasonable • LCFF Increase Keeps Implementation on Track

  16. Proposition 98 Reserve • Makes Deposits When Capital Gains Revenues Strong • Makes Withdrawals When Guarantee Insufficient to Fund Growth and COLA • Intent Laudable • Execution Poor

  17. 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

  18. 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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