By Katy Murphy
Thursday, November 15th, 2007 at 10:33 am in finances.
A report released yesterday by Legislative Analyst Elizabeth Hill can’t be good news for California schools — or any other recipient of state funding for that matter.
Hill projected a $10 billion shortfall in the state budget over the next two years, largely, because of an economic downturn. That means Schwarzenegger and state lawmakers will have to make some serious cuts, raise taxes, or both.
Here’s the Tribune article that ran today. Here’s a Legislative Analyst’s Office briefing on how the state budget situation might affect Prop. 98, the formula that sets the minimum funding levels for public schools and community colleges (Between you and me, it’s not that easy to understand).
How do you think the Oakland school district — which, as we all know, has no small deficit of its own — will survive further cuts in state funding, should it come to that?
image from DeFaBa’s Web site at flickr.com