California State Budget Update and Education Funding Analysis
"Get insights into the California state budget update presented to the Association of School Business Officers, covering expenditures, reserves, revenue updates, key factors for 2016-17, and K-12 funding details. Explore the impact of minimum wage laws, non-education program spending, and stock market growth on the state's financial landscape."
Download Presentation
Please find below an Image/Link to download the presentation.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author. If you encounter any issues during the download, it is possible that the publisher has removed the file from their server.
You are allowed to download the files provided on this website for personal or commercial use, subject to the condition that they are used lawfully. All files are the property of their respective owners.
The content on the website is provided AS IS for your information and personal use only. It may not be sold, licensed, or shared on other websites without obtaining consent from the author.
E N D
Presentation Transcript
State Budget Update Presented to: California Association of School Business Officers April 14, 2016 Legislative Analyst s Office
Governors Budget Expenditures (Dollars in Millions) 2
Reserve Under Governors Budget Plan (In Millions) 3
Constitutional Spending Requirements Reserves Proposition 2 Debt Payments Proposition 98 4
State Revenue Update 2014-15 Revenues Might increase hundreds of millions due to accruals. 2015-16 Revenues Big Three tax revenues are $103 million above projections through March. Corporate tax: $359 million above projections. Personal income tax: $124 million below projections. Sales tax: $132 million below projections. 6
Key Factors for 2016-17 Stock Market Growth in Bay Area Growth in Global Economy 7
May/June Budget Planning Small Increase in State Revenue Small Non-Education Cost Increases to Account for New Minimum Wage Law Small Additional Spending on Non-Education Programs 8
2014-15 Minimum Guarantee (Dollars in Millions) 10
2015-16 Minimum Guarantee (Dollars in Millions) 11
2016-17 K-12 Funding (Dollars in Millions) 12
2016-17 K-12 Changes (In Millions) 13
Local Control Funding Formula (Dollars in Billions) 14
May/June Budget Planning Small Spending Adjustments Likely Emphasis on One-Time Spending A Few Legislatively Driven Spending Decisions 15
Proposition 98 Property Tax Estimates Reflects Governor s Budget (Dollars in Millions) 16
Issues With Specific Proposition 98 Proposals Preschool Education Mandates Backlog Education Mandates Block Grant County Offices of Education Funding Special Education 17
Other Issues Proposition 30 Tax Extension School Bond CalSTRS and CalPERS Cost Increases State School Deposit/Local Reserve Caps 18
lao.ca.gov 19
