Credit: Alison Yin / EdSource
The Legislative Analyst’s Office is warning superintendents and school boards working on their next year’s budget that more storm clouds are on the fiscal horizon.
In a Feb. 15 report, the LAO forecast that further erosion of state revenues will likely reduce state funding for TK-12 by an additional $7.7 billion – $5.2 billion in 2023-24 and $2.7 billion in 2025-26. That would be on top of the $13.7 billion shaving that Gov. Newsom announced in his proposed budget for the current budget cycle that he released just a month ago.
When he presented the proposed state budget in January, Newson built in a small cost of living increase and vowed to preserve funding commitments for schools and community colleges, but the deteriorating revenue estimates may force him to reconsider that promise when he revises the budget in May.
The California Department of Finance, which…
