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You are here: Home Newsroom Education News Roundup Archive 2010 October 2010 The potential curse of money deferred

The potential curse of money deferred

  • 10-11-2010
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Blog by John Fensterwald/Educated Guess

Even in suspending Proposition 98, after hemming and hawing all night long, for only the second time, the Legislature approved Prop 98 spending of $1.2 billion more than Gov. Schwarzenegger proposed in May. And then lawmakers tacked on $3 billion on top of that. That’s the good news. The bad news is how they did it, with $1.9 billion of the $3 billion ($1.7 billion for K-12, $200 million for community colleges) deferred until the next fiscal year. In the end, that may leave school districts worse off than before. Here’s why: There’s a good chance that for many reasons the deferred money will be like vaporware – an undelivered promise. The state budget is built on optimistic assumptions of $5 billion extra funding from the federal government and higher state revenue than the governor projected. The state is facing a continued deficit made worse by the expiration of about $9 billion in temporary taxes, starting next year. (more…)

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