The 2017-18 Budget: Initial Comments on the Governor’s May Revision

May 13, 2017 - Supplemental Payment for State Pensions. The administration proposes making an additional payment of $6 billion to reduce the unfunded liability of CalPERS, the pension system for retired state employees.
https://lao.ca.gov/Publications/Report/3669

CalSTRS Funding: An Update

May 5, 2017 - Generally, the calculation estimates what CalSTRS ’ unfunded liabilities would be if (1) the state had not granted teachers more generous pensions in the late 1990s and (2) state and teacher contributions to CalSTRS ’ main pension fund had not been decreased when CalSTRS was fully funded around 2000.
https://lao.ca.gov/Publications/Report/3662

CalSTRS Funding: An Update [Publication Details]

May 5, 2017 - The CalSTRS board recently acted to change assumptions used to estimate its unfunded liabilities, including the key assumption about future investment returns--sometimes referred to as the "discount rate." These and other recent developments have eroded CalSTRS' funding situation.
https://lao.ca.gov/Publications/Detail/3662

Update on COLA for K-14 Education Programs

Apr 28, 2017 - Background Statutory COLA Determined by Price Index for State and Local Governments. State law specifies that certain school and community college programs are to receive an annual COLA. The statutory COLA rate is tied to a national price index developed by the Bureau of Economic Analysis (a division of the U.S.
https://lao.ca.gov/Publications/Report/3657

The 2017-18 Budget: Update on K-12 Student Attendance

Mar 30, 2017 - The state also uses attendance data in the calculation of the Proposition 98 minimum guarantee. In most years (22 of the past 28), the minimum guarantee equals the amount of state and local funding schools received the previous year, adjusted for changes in statewide ADA and growth in state revenue (Test 3) or the state economy (Test 2).
https://lao.ca.gov/Publications/Report/3638

The 2017-18 Budget: Update on Per Capita Personal Income

Mar 30, 2017 - In concept, the maintenance factor is intended to allow the state to provide less K-14 funding when state revenues are sluggish and more K-14 funding when state revenues are stronger. (A maintenance factor als o is created when the minimum guarantee is suspended, which may occur with a two-thirds vote of each house of the Legislature.)
https://lao.ca.gov/Publications/Report/3639

The 2017-18 Budget: Update on K-12 Student Attendance [Publication Details]

Mar 30, 2017 - In early March of 2017, the California Department of Education certified initial average daily attendance data for 2016-17. In this post, we describe how the state tracks attendance and discuss the implications for Proposition 98 and school funding.
https://lao.ca.gov/Publications/Detail/3638

The 2017-18 Budget: Bus Driver Training Program

Mar 10, 2017 - Of this amount, about $100,000 in total State Penalty Fund revenue goes unspent. The unspent amount generally reverts back to the fund and is reappropriated for State Penalty Fund programs each year.
https://lao.ca.gov/Publications/Report/3614

The 2017-18 Budget: Bus Driver Training Program [Publication Details]

Mar 10, 2017 - Our office recently released a brief, The 2017-18 Budget: Governor’s Criminal Fine and Fee Proposals, which provides information about the various programs affected by the steady decline in criminal fine and fee revenue deposited into the State Penalty Fund since 2008-09. This post provides more detailed information about the Bus Driver Training Program, one of the affected programs.
https://lao.ca.gov/Publications/Detail/3614

Overview of Local Control Funding Formula and K-12 Pension Costs [Publication Details]

Mar 7, 2017 - Overview of Local Control Funding Formula and K-12 Pension Costs [Publication Details] Translate Our Website This Google ™ translation feature provided on the Legislative Analyst's Office (LAO) website is for informational purposes only.
https://lao.ca.gov/Publications/Detail/3606