LA O State Budget Update Jennifer Kuhn Legislative Analyst’s Office October 4, 2007 www.lao.ca.gov
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LAO
State Budget Update
Jennifer Kuhn Legislative Analyst’s Office October
4, 2007
www.lao.ca.gov
LAO
2007-08 State Budget
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State’s General Fund ConditionIn Millions
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Major Actions Taken to Balance Budget: Proposition 98Prop. 98 Funding Level Assumes Lower State Revenues
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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
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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
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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
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Major Risks to State Budget
Volatility of General Fund revenues Transportation lawsuit Sale of EdFund Amount of tribal gambling revenue Court-ordered CalSTRS payment
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General Fund Spending by Major Program AreaDollars in Millions
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2007-08 K-12 Budget
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Funding From All SourcesDollars in Millions
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Ongoing Proposition 98In Millions
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Ongoing Proposition 98: Major ActionsIn Millions
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One-Time And Special Funds: Major ActionsIn Millions
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Governor’s VetoesIn Thousands
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K-12 Proposition 98Spending Per PupilIn Billions
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Balance on Education Credit Card GrowsIn Millions
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A Look at the Coming Year
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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
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Year of Reform?
State Budget Reform?
Year of Education Reform?
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State Budget: Considerable Volatility in General Fund Revenues
Year-to-Year Percent Change in General Fund Revenues
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State Budget: Considerable Volatility in Annual Allocations
Year-to-Year Change in General Fund Revenues (In Billions)
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K-12 Education:Possible Finance Reform
Adequacy initiative or lawsuit
Weighted student formula
Categorical block grants
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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
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