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1 LAUSD State of the Budget Understanding the District’s Budget Challenges October 2012.

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Presentation on theme: "1 LAUSD State of the Budget Understanding the District’s Budget Challenges October 2012."— Presentation transcript:

1 1 LAUSD State of the Budget Understanding the District’s Budget Challenges October 2012

2 CA Education Funding: The Alligator Chart State funding for K-12 education has dropped significantly since Source: School Services of California, Inc. 2 Loss of COLA Loss of baseline dollars Loss due to potential failure of Prop

3 Supported by Governor Brown ¼ percent sales tax increase; up to 3% increase in personal income tax for high- income earners (>$250,000) Generates $6 billion in through ; with smaller amounts in , and DURATION: Sales tax for 4 years; Income tax for 7 years Supported by Molly Munger Increase in personal income tax for all but low-income earners, from 0.4% for lowest income individuals to 2.2% for individuals earning >$2,500,000 Generates $5 billion in ; $10 billion thereafter DURATION: Income tax for 12 years Proposition 30 Proposition 30 Proposition 38 Proposition 38 Source: Source: November Tax Initiatives Propositions 30 & 38 3 “The Schools and Local Safety Protection Act of 2012” “ Our Children, Our Future: Local Schools and Early Education Investment and Bond Reduction Act”

4 Impact on our Instructional Calendar if Prop 30 Passes or Fails LAUSD’s school year might need to be shortened an additional 15 days -15 instructional days -15 instructional days Passes Fails days 160 days instructional days instructional days Current 175 days

5 - $255 million - $252 million ≈ - $ million ≈ -$ million What if Prop 30 Fails? LAUSD’s fiscal picture over the next 18 months if Prop 30 fails Prop 30 Cuts Structural Deficit 5

6 Impact of Federal “Sequestration Cuts” Federal revenue would be cut by nearly $65 million in * Estimated revenues Note: Assumes sequestration cuts are on-going at maximum cut of 9.1%. Sequestration cuts could range from 5.5% to 9.1% depending on congressional action. New America Foundation report estimated a $111 million impact because it used Census data which included stimulus funds which are no longer available. Source: Superintendent's Final Budget. Page IB - 9. Revenue if sequestration cuts go through


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