Upload
jade-blankenship
View
224
Download
0
Embed Size (px)
DESCRIPTION
LAO State’s General Fund Condition In Millions
Citation preview
LAO
State Budget Update
Jennifer Kuhn Legislative Analyst’s Office October
4, 2007
www.lao.ca.gov
LAO
2007-08 State Budget
LAO
State’s General Fund ConditionIn Millions
LAO
Major Actions Taken to Balance Budget: Proposition 98Prop. 98 Funding Level Assumes Lower State Revenues
LAO
Major Actions Taken to Balance Budget: Relies Heavily on Special Funds
Uses almost $1.3 billion in transportation funds to relieve General Fund
Uses about $1.3 billion in tobacco securitization funds to relieve General Fund
LAO
Major Actions Taken to Balance Budget: Scores New General Fund Revenue
Scores $1 billion in one-time revenue from sale of EdFund
Scores almost $300 million in new revenue from amended tribal gambling compacts
LAO
Major Actions Taken to Balance Budget: Achieves Some Savings
Achieves almost $250 million in social services savings
Achieves about $330 million in Medi-Cal savings
LAO
Major Risks to State Budget
Volatility of General Fund revenues Transportation lawsuit Sale of EdFund Amount of tribal gambling revenue Court-ordered CalSTRS payment
LAO
General Fund Spending by Major Program AreaDollars in Millions
LAO
2007-08 K-12 Budget
LAO
Funding From All SourcesDollars in Millions
LAO
Ongoing Proposition 98In Millions
LAO
Ongoing Proposition 98: Major ActionsIn Millions
LAO
One-Time And Special Funds: Major ActionsIn Millions
LAO
Governor’s VetoesIn Thousands
LAO
K-12 Proposition 98Spending Per PupilIn Billions
LAO
Balance on Education Credit Card GrowsIn Millions
LAO
A Look at the Coming Year
LAO
2008-09 Budget Outlook
Heavy reliance on one-time monies for ongoing costs means large operating shortfall in 2008-09
2008-09 looks to be tight for K-12 education
LAO
Year of Reform?
State Budget Reform?
Year of Education Reform?
LAO
State Budget: Considerable Volatility in General Fund Revenues
Year-to-Year Percent Change in General Fund Revenues
LAO
State Budget: Considerable Volatility in Annual Allocations
Year-to-Year Change in General Fund Revenues (In Billions)
LAO
K-12 Education:Possible Finance Reform
Adequacy initiative or lawsuit
Weighted student formula
Categorical block grants
LAO
LAO Work-in-Progress Relating to K-12 Finance Reform
Overview of programs serving economically disadvantaged students
Analysis of how districts use EL funds
Response to “Getting Down to Facts” studies