Tuesday, May 14, 2013

Schools May Get All Of California's Surplus Revenue

The Los Angeles Times (5/13, York) reports California's revenues for the first half of the year are about $4.5 billion higher than predicted, "and complicated budget formulas could direct nearly all of that money to public schools and community colleges" even as other interests could be asked to cut budgets. Proposition 98 entitles schools to about 40% of the revenue. Under Proposition 111, when, as now," revenues grow faster than personal income," the state must give new money to schools. Finally, Proposition 30's income tax increase was retroactive, requiring the 2011-12 and 2012-13 budgets be revised on the money owed to schools.

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