Important BREAKING news about Prop.E, Prop.98 and Governor Brown:
Summary of “May 2014 Budget Revisions”
from page 16
“The May Revision focuses on maintaining the core priorities outlined in the Governor’s
Budget for K-12 schools-paying down the “Wall of Debt” and investing significantly in
the new Local Control Funding Formula (LCFF). The May Revision prioritizes available
funding to repay all of the inter-year budgetary deferrals through a mix of ongoing
2014-15 funds and one-time funds attributable to 2012-13 and 2013-14. This will
provide local educational agencies with a significant infusion of additional cash, which
in turn will substantially reduce borrowing costs for schools. The May Revision also
continues the Administration’s commitment to the LCFF, by maintaining the $4.5 billion
second-year-implementation investment in the formula, enough to eliminate more than
28 percent of the remaining funding gap. Funding is provided for various workload
adjustments under the new formula, as detailed in the K-12 Budget Adjustments section.”
http://www.dof.ca.gov/documents/2014-15_May_Revision.pdf
http://www.lao.ca.gov/reports/2014/budget/prop98/proposition-98-budget-021414.aspx
