K-12 Funding Formula Would Generate New Per-Pupil Spending Disparities
California Common Sense (CACS) released a brief analyzing Governor Brown’s proposed Local Control Funding Formula (LCFF), which if enacted, would alter the way California distributes state funding to K-12 school districts and charter schools. The overhaul would largely eliminate “categorical,” earmarked spending for state-mandated programs. The formula would apply more weight to districts with higher […]
For California Pensions, Math is Already at Work
Last week, in this forum, Lou Paulson argued that the pension debate in California should be more concerned with math and less with politics. I completely agree, which is why I was perplexed after reading his op-ed. Among other things, he argues that California’s state and local governments should not fully fund pension plans for […]
LAO’s Report Calls for Additional $4.5 Billion Annually to Fund Teachers’ Pensions
As state’s unfunded pension liabilities more than doubled since 2007-08, most state services shrank as portion of budget. Long delayed but necessary increase in pension contributions will further crowd out spending on classrooms and services. The California Legislative Analyst’s Office (LAO) released a report stating that the California State Teachers’ Retirement System’s (CalSTRS) $73 billion unfunded pension liability “may […]
Los Angeles City Pension Costs Grew 25% Annually Over Last Decade
California Common Sense (CACS) released a report analyzing the city of Los Angeles’s pension system – the growth of the city’s pension expenses, the causes of the growth, and the challenges the city faces in handling their pension problems. The report comes as Los Angeles faces year-after-year deficits, including a $222 million budget deficit for […]