Thursday, May 16, 2013

Minimum funding level for schools increased in May revise

Report of the California Budget Project 5/16/2013

  1. Increased Revenues Boost the Minimum Funding Level for Schools
    Approved by voters in 1988, Proposition 98 constitutionally guarantees a minimum level of funding for K-12 schools, community colleges, and the state preschool program. Because changes in state General Fund revenues tend to affect the Proposition 98 guarantee, the Proposition 98 funding levels included in the May Revision reflect changes in 2012-13 and 2013-14 projected revenue compared to January budget estimates. The May Revision assumes a 2012- 13 Proposition 98 funding level of $56.5 billion for K-14 education programs, $2.9 billion more than the level assumed in the Governor’s January proposal. However, the May Revision assumes a 2013-14 Proposition 98 funding level of $55.3 billion, $941.4 million less than the level assumed in the Governor’s January proposal. Specifically, the May Revision:
    •   Increases repayments to schools and community colleges by $758 million by the end of 2013-14 compared to the Governor’s January budget proposal. The May Revision provides an additional $1.8 billion in 2012-13 to partially restore previously deferred payments to schools and community colleges, but decreases 2013-14 repayments by more than $1 billion. At the end of 2013-14, payment deferrals to schools and community colleges – that is, the amount still owed by the state – would be $5.5 billion under the May Revision, compared to $6.3 billion under the Governor’s January budget proposal.
    •   Provides $1 billion in one-time 2012-13 funding to support implementation of the Common Core State Standards (CCSS). In August 2010, the State Board of Education adopted CCSS for California’s K-12 schools. 
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