The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges

Nov 18, 2020 - Tax collections for the state ’s three largest taxes —the personal income tax, the corporation tax, and the sales tax —have been very strong over the past several months. Between August and October, collections were up 9  p ercent compared with the same period the previous year and 22  p ercent compared with June 2020 e stimates ( Figure  2 ).
https://lao.ca.gov/Publications/Report/4298

The 2021-22 Budget: California's Fiscal Outlook [Publication Details]

Nov 18, 2020 - In addition to The 2021-22 Budget: California’s Fiscal Outlook report and the accompanying The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges report, several related posts on health and human services, economics and taxes, and other issues will be published in the coming days.
https://lao.ca.gov/Publications/Detail/4297

Update on School District Budgets

Nov 16, 2020 - Figure  6 shows projected changes in district spending from 2020 ‑21 to 2022 ‑23 in several major expenditure categories. Districts project the largest increases ($1.4  billion) in employee benefits.
https://lao.ca.gov/Publications/Report/4301

The 2020-21 Spending Plan: Proposition 98 and K-12 Education

Oct 29, 2020 - Typically, school districts receiving funding from the state ’s School Facility Program are required to establish a restricted account for routine maintenance of school facilities and deposit 3  percent of the district ’s annual expenditures.
https://lao.ca.gov/Publications/Report/4291

State Budget Effects of Recent Federal Actions to Address COVID-19

Apr 5, 2020 - Legislation specifies that the funds can be used for “necessary expenditures incurred due to the public health emergency with respect to the Coronavirus Disease 2019 ” that are incurred between March  1 and December 30, 2020.
https://lao.ca.gov/Publications/Report/4217

Update on State and School District Reserves

Apr 5, 2020 - Property tax revenue, for example, arrives in two large installments (in December and April). Districts also save money for large, anticipated costs like replacing computers or unexpected costs like repairing a damaged roof.
https://lao.ca.gov/Publications/Report/4216

The 2020-21 Budget: Governor’s Fiscal Oversight Proposals

Mar 19, 2020 - Require an update on the district ’s cash flow and expenditure estimates. Require that the district submit a proposal to address its fiscal health. Assign Fiscal Crisis and Management Assistance Team to review the district ’s management of its teacher workforce.
https://lao.ca.gov/Publications/Report/4204

Excess ERAF: A Review of the Calculations Affecting School Funding [Publication Details]

Mar 6, 2020 - We recently found that some counties are calculating excess ERAF in ways that seem contrary to state law and shift too much property tax revenue from schools to other agencies. We have three specific concerns related to the calculation of excess ERAF that together affect about $350 million in annual property tax revenue.
https://lao.ca.gov/Publications/Detail/4193

Excess ERAF: A Review of the Calculations Affecting School Funding

Mar 6, 2020 - Property Tax Basics Many Local Agencies Receive Property Tax Revenue. Property owners in California pay a tax of at least 1  p ercent on the assessed value of their properties. The State Constitution requires the proceeds of the property tax to be allocated for local agencies in the county where the revenue is collected.
https://lao.ca.gov/Publications/Report/4193

The 2020-21 Budget: School District Budget Trends

Jan 21, 2020 - When this threshold is met, medium and large school districts (those with 2, 500 o r more students) are limited to having local reserves that amount to no more than 10  p ercent of their annual expenditures.
https://lao.ca.gov/Publications/Report/4136