California Budget: A Thanksgiving Message of Hope
California's highly regarded Legislative Analyst's Office released a preliminary report, shockingly positive, and contrary to previously gloomy reports.My pessimistic self was pleasantly surprised to hear that the annual state financial outlook predicts, "A fast economic rebound from a recession," due to taxes received from the richest Californians. This projection is considered a windfall of revenue for K-12 schools and community colleges next year.
While additional funds may be used to pay off the $12.5 billion in deferrals to districts that avoided funding cuts in this year's budget, it will also most likely give districts more money to spend next year. While CASC was supporting the passage of Proposition 51, and we were disappointed in its narrow defeat, this news cannot come at a better time and is a breath of fresh air.