Great news on deferrals: January payment already on its way
State expediting $1.57 billion in K-12 funds this month
Published: December 5, 2012
Nearly $2.4 billion in deferred appropriations to local educational agencies will be released early or on time in 2013, state Treasurer Bill Lockyer told a CSBA Annual Education Conference luncheon audience last Friday.
Lockyer delivered his good news on deferrals at AEC’s CSBA Legislative Network Luncheon after shortly after addressing the California Council of School Attorneys at a separate luncheon, and CSBA Assistant Executive Director for Governmental Relations Dennis Meyers broadcast it a day later via a live Internet transmission of the conference’s State of the State panel discussion that’s archived here for viewing through Jan. 30.
“I have some news for you,” Meyers said, paraphrasing Lockyer. “You’re all scheduled to get a payment on a deferral in January. We’re sending that out now. … The March deferral that is scheduled to take place is not going to happen. We’re canceling that. It was like he carried money bags into the room,” Meyers continued. “It was amazing, it just kind of lifted the room.”
Lockyer, state Controller John Chiang and state Finance Director Ana Matasantos offered more detail in a letter to legislative leaders, putting the expedited release of K-12 funds this month at $1.57 billion; those appropriations were originally owed to schools last summer and fall. The March payment of $800 million will be released on time instead of deferred until April.
CSBA legislative agenda
Even with those payments, schools and colleges still must wait until the 2013-14 fiscal year for $10.4 billion that’s owed to them this year. CSBA has steadfastly opposed the state’s increasing reliance on deferrals in recent years, and the issue remains prominent in its aggressive legislative agenda for 2013.
In addition to pursuing the association’s policy priorities such as sustained adequate yearly funding and strengthening local school boards’ governance role, the legislative agenda seeks regulatory relief and legislative solutions to ease the fiscal constraints on public schools. Watch for details in the January issue of California School News.