LAO California’s Fiscal Outlook Legislative Analyst’s Office California Association of School Business Officials CBO Symposium November 15, 2012 www.lao.ca.gov.

Slides:

Advertisements

Similar presentations

LAO Californias Economic and Budget Outlook Legislative Analysts Office

Advertisements

LAO California’s Economic and Budget Situation Legislative Analyst’s Office.

The Long-Term Squeeze on Municipal Finances Massachusetts Association of School Business Officials Michael J. Widmer, President Massachusetts Taxpayers.

FISCAL ACCOUNTABILITY OF STATE GOVERNMENT Presentation Prepared for the Appropriations Committee and the Finance, Revenue, and Bonding Committee by the.

CALIFORNIA HOUSING MARKET FORECAST June California Housing Market Outlook SERIES: CA Housing Market Outlook SOURCE: CALIFORNIA ASSOCIATION OF REALTORS®

LAO State Budget Update Jennifer Kuhn Legislative Analyst’s Office Presented to: CCSESA February 24,

Adopted Budget Walnut Valley Unified School District Board of Trustees June 19, 2013.

UCLA Budget Outlook FY Presentation by Steven A. Olsen Vice Chancellor, Finance and Budget November 18, 2003.

Once again the State adopted a budget without realistically solving its own major deficit problem. “Mid-Year Triggers” is the latest catch phrase for.

GOPB 2010 GENERAL SESSION BUDGET REVIEW Phillip Jeffery, Deputy Director for the Governor’s Office of Planning & Budget Association of Government Accountants.

1 Budget Development & Issues & Dr. Constance M. Carroll Chancellor San Diego Community College District Terry Davis Vice Chancellor,

LAO California’s Budget Outlook for Michael Cohen Legislative Analyst’s Office April 23,

Health Care Forecasting Conference James Baumgardner Deputy Assistant Director Congressional Budget Office February 25, 2010.

Financial Plan Overview Andrew M. Cuomo, Governor Robert L. Megna, Director of the Budget July 2011 New York State Division of the Budget.

Agricultural Economics Macroeconomic Situation and Outlook Fall 2003 Craig Infanger Larry Jones.

Time for a Turnaround: Facing Fiscal Reality in New York State Citizens Budget Commission.

BOE Advisory Council July 25, 2013 The Economic Outlook Joe Fitz Chief of Research and Statistics Board of Equalization.

PBIM SUMMIT August 29, TODAYS INFORMATION  State Budget Highlights  Peralta’s Final Budget  Funding Sources  Unrestricted General Fund.

Evergreen School District Budget Advisory Committee January 21, 2015 January 21, 2015 BAC1.

LAO Fiscal Outlook Legislative Analyst’s Office November 27,

NOCCCD Townhall Presentation November 13, 2012 Presented by: Fred Williams – Vice Chancellor, Finance & Facilities.

LAO State Budget Update Legislative Analyst’s Office Jennifer Kuhn California Charter Schools Conference 2/29/2012

Budget 400: Advanced-Level Finance for the Governance Team Presented by Ron Bennett President and CEO School Services of California, Inc. Joel Montero.

NESTOA September 16, 2011 Scott Pattison Executive Director National Association of State Budget Officers 444 North Capitol Street, NW, Suite 642 Washington,

LAO CBO Hot Topics 101: State Budget Outlook Legislative Analyst’s Office CASBO 2012 Annual Conference April 11,

State Fiscal Outlook: Minnesota and the Nation ONE MINNESOTA January 25, 2012 Scott Pattison Executive Director National Association of State Budget Officers.

2009 Economic Forecast Update & Three -Year Outlook.

Berryessa Union School District Governor’s Proposed Budget for

San Marino Unified School District Second Interim Financial Report and Long Range Financial Projections March 11, 2008.

Michigan’s Future A Conversation with Governor Jennifer M. Granholm.

Initiative 601: Experience and Context Presentation to the House Finance Committee by the Office of Financial Management Victor Moore, Director Irv Lefberg,

LAO Budget, Pensions, and ERAF Legislative Analyst’s Office September 24,

SEPTEMBER 23, 2015 BUDGET FORUM Jeremy Meyers, Superintendent Robbie Montalbano, Deputy Superintendent.

State Economic Outlook Legislative Analyst’s Office Presented to: California Association of Chief Business Officers April 3,

LAO Comparing Funding for Charter Schools and Their School District Peers Legislative Analyst’s Office California Charter School Association March 1, 2012.

LAO The State Budget & Adult Education Legislative Analyst’s Office January

FINAL BUDGET September 9, AGENDA  State Budget Highlights  Peralta’s Final Budget  Funding Sources  Unrestricted General Fund.

Governor’s Budget Ramona Unified School District January 22, 2008.

LAO An Overview of the State’s Demographics and Economy Legislative Analyst’s Office Presented to: California Senate January 28, 2013.

May Revise. Governor’s May Revise Summary No Suspension of Prop 98 COLA 5.66% but Deficited to 0% Categorical Programs reduced by 6.5% No Funding for.

LAO The State Education Budget Legislative Analyst’s Office Presented at: CASBO 2011 Annual Conference April 7, 2011.

LAO Update on State Budget Jennifer Kuhn Legislative Analyst’s Office February 20,

An Overview of the State’s Economy and Demographics Legislative Analyst’s Office Presented to: Assembly Committee on Jobs, Economic Development,

Overview and Outlook for Georgia’s Revenue Situation and Economy Fiscal Management Council Office of Planning and Budget Ken Heaghney September 2015.

LAO California’s Budget Situation Legislative Analyst’s Office Presented to: California School Boards Association December 4, 2009.

LAO California’s Fiscal Outlook Legislative Analyst’s Office Jennifer Kuhn November 17,

LAO Propositions 30 and 38 Legislative Analyst’s Office Presented to: Alameda County Office of Education September 12, 2012.

Legislative Analyst’s Office Presented to: November 19, 2015 California Association of School Business Officials, CBO Symposium 0.

LAO State Budget Update Jennifer Kuhn Legislative Analyst’s Office October 4,

Legislative Analyst’s Office Presented to: November 20, 2014 California Association of School Business Officials, CBO Symposium 0.

Budget Crisis Planned on $104 billion Current estimate is $8 - $15 billion less Equals a 7 to 14% shortfall Caused by major economic downturn,

LAO The State Budget and Educational Funding Mac Taylor Legislative Analyst April 17,

LAO California’s Fiscal Outlook Jennifer Kuhn Director, K-12 Education Legislative Analyst’s Office April 15,

LAO State Budget Update Jennifer Kuhn Legislative Analyst’s Office November 21,

Governor’s Proposed Budget Steve Bolman Deputy Supt., Business and Administration Midge Hoffman Director, Budget & Accounting.

Legislative Analyst’s Office Presented to: December 15, 2014 California School Boards Association, Annual Education Conference 0.

State Budget Update Legislative Analyst’s Office C.A.S.H. Fall Conference October 15,

Legislative Analyst’s Office Presented to: December 3, 2015 California School Boards Association 0.

State of the States Brian Sigritz Director of State Fiscal Studies NASBO NASACT Middle Management April 12, 2016.

CITY OF MENIFEE, CA. FY General Fund Mid-year Review Other Funds Mid-year Review National, State and Local economic conditions FY Budget Planning.

Legislative Analyst’s Office Presented to: April 14, 2016 California Association of School Business Officers.

Public Hearing: Fiscal Year 2017 Recommended Operating Budget City Council Meeting, May 9, 2016 Item 7.

CASBO 2016 Conference “Will New LCFF Base Revenues be Sufficient to Fund Your District's New Annual Costs?” Increasing Costs for New and Ongoing State.

Governor’s May Budget Revision. Themes for the May Revision It’s all about the economics Revenues are improving at a much slower rate than expected in.

FISCAL YEAR 2012 – st Interim Report December 19th, 2012.

CT Association of Nonprofits BUDGET FORUM

California’s Fiscal Outlook

The Budget: California’s Fiscal Outlook

The Budget: California’s Fiscal Outlook

California’s Fiscal Outlook

Presentation transcript:

LAO California’s Fiscal Outlook Legislative Analyst’s Office California Association of School Business Officials CBO Symposium November 15,

LAO Budget Outlook

LAO $1.9 Billion Budget Problem  : $943 Million Deficit  : $936 Million Operating Shortfall 2

LAO Forecasted Operating Surpluses Beginning in General Fund and Education Protection Account Combined (In Billions)

LAO Consider How Best to Use Future Budget Surpluses  Build Up State Reserve  Pay Down Existing Obligations  Address Retirement Liabilities  Build Up Base Programs  Invest in Infrastructure 4

LAO National Economic Outlook

LAO National Economic Near-Term Outlook Worsened Slightly Comparing LAO May and November Forecasts

LAO National Economic Forecast Summary

LAO California’s Economic Outlook

LAO California’s Economic Near-Term Outlook Improved Slightly Comparing LAO May and November Forecasts

LAO Growth in California Personal Income Projected to Hover Around 5 Percent

LAO Unemployment Rate in California Projected to Decline Steadily

LAO California Building Activity Is Recovering Annual Residential Building Permits (In Thousands)

LAO Jobs in California Growing Much More Slowly Than Prior Recoveries Job Loss and Years to Return to Prerecession Employment Peak

LAO State Revenue Outlook

LAO LAO Revenue Forecast (In Billions)

LAO LAO “Big Three” Revenue Forecast (In Billions)

LAO Outlook for Education

LAO Proposition 98 Forecast (Dollars in Millions)

LAO Key Proposition 98 Factors

LAO Many Competing Spending Priorities  Paying Down One-Time Obligations  Building Up Ongoing Base Support Restoring prior-year base reductions. Making up foregone COLAs. Providing a budget-year COLA. Equalizing per-pupil funding rates. Addressing end of “categorical flexibility”/ transitioning to weighted student formula. 20

LAO Consider How Best to Use Proposition 98 Funding Increases  Build Plan to Retire Existing, One-Time Education Obligations by End of  Carefully Consider How to Build Up Ongoing Base Support  Caution Against More Categorical Programs 21

LAO One-Time Education Obligations