Thursday, March 28, 2024

Community Voices: Breaking News Will Impact Prop. E: $4.5 Billion More for LCFF Plan

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



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