California’s Education Funding to Drop by $2.2 Billion: Report
California’s education budget is projected to drop by $2.2 billion for the next fiscal school year, according to the state’s Legislative Analyst’s Office (LAO).
LAO’s annual budget prediction, released earlier this month, anticipates the 2-percent decrease in education funding from the current year’s $128 billion “based upon recent signs of weakness in the economy.”
The predictions are a minimum guarantee, calculated by the state each year for public education funds based upon a set of formulas established in 1988 under Proposition 98.
These predictions typically provide the basis for the state’s budget planning, which is formally adopted by Gov. Gavin Newsom in the summer….