Controller Reports State’s Three Major Taxes Running Higher Than Budget Projections

September 18, 2017

State Controller Betty T. Yee reported on September 12 that the state brought in $8.90 billion in August, exceeding projections in the state budget by $343.7 million, or 4.0 percent.

After July revenues exceeded expectations, the positive August numbers put total fiscal year-to-date revenues at $14.99 billion, $532.5 million higher than projections in the state budget enacted in June. Revenues for the first two months of the fiscal year were $1.01 billion higher than they were one year ago.

Led by personal income taxes (PIT), each of the “big three” revenue sources beat expectations. PIT receipts of $5.22 billion in August were $135.7 million higher than 2017-18 Budget Act estimates. For the current fiscal year, California collected total PIT receipts of $9.96 billion, $212.9 million more than anticipated in the 2017-18 Budget Act...

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Controller Reports Encouraging July Revenues

August 21, 2017

California started the 2017-18 fiscal year with encouraging revenues, State Controller Betty T. Yee reported on August 10, with total revenues of $6.09 billion in July exceeding projections in the state budget approved in June by $188.8 million, or 3.2 percent.

Total revenues in July 2017 were $667.9 million higher than in July 2016. In July, each of the “big three” revenue sources beat expectations.

Personal income tax receipts of $4.74 billion in July were $77.3 million higher than 2017-18 Budget Act estimates. July corporation tax receipts of $363.5 million were $18.9 million more than anticipated in the budget, or 5.5 percent. Retail sales and use tax receipts of $899.5 million for July surged $84.6 million, or 10.4 percent, above budget estimates...

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Educators Alarmed by Proposed Federal Education Budget Cuts

July 24, 2017

On July 12, the U.S. House Appropriations Subcommittee took the first step towards funding the federal department of education by publicly releasing its budget proposal for the upcoming fiscal year. National Education Association President Lily Eskelsen GarcĂ­a issued the following statement.

“The Rev. Martin Luther King, Jr. notably stated that budgets are not just financial documents; they are moral documents. He went on to say that, a nation that spends more on its military than on social programs is approaching spiritual death. Sadly, the House appropriations budget reflects the misguided priorities of some in Washington...

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Controller: June Revenues $2.68 Billion Short of Projections

July 24, 2017

California total revenues of $16.63 billion for June fell short of projections in the governor’s revised budget released two months ago by 2.5 percent, State Controller Betty T. Yee reported on July 10.

The 2017-18 fiscal year began July 1. For the fiscal year that ended June 30, total revenues of $121.91 billion missed May Revision estimates by $295.7 million, or 0.2 percent. The fiscal year total was $2.68 billion lower than anticipated in the 2016-17 budget signed last summer, with all of the “big three” revenue sources missing the mark.

For June, personal income tax (PIT) receipts of $10.94 billion were $161.0 million shy of May estimates, or 1.5 percent...

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Governor Brown Signs New State Budget, Torlakson Praises Increases for Education Funding

July 10, 2017

On June 29, State Superintendent of Public Instruction Tom Torlakson thanked Governor Brown for signing a 2017-18 state budget that increases funding for kindergarten through twelfth grade public schools, after school programs, early education and child care, and teacher recruitment and training.

“The Legislature and Governor clearly showed their strong and ongoing support of high-quality public education in California,” Torlakson said. “When we invest more in our students, we help them succeed on their way to 21st century careers and college...

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Legislature Approves State Budget, Which Now Awaits Governor’s Signature

June 19, 2017

On Thursday (June 15), California legislators approved the 2017-18 state budget, which now awaits Governor Brown’s signature.

The Sacramento Bee reported:

California lawmakers passed a spending plan for the coming fiscal year Thursday, meeting the state’s budget approval deadline with a $183.2 billion package that raises school funding, expands a tax credit for the working poor and gives the Capitol a greater say over University of California finances.

The main budget bill passed the Senate 28-10 and the Assembly 59-20 several hours later...

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Controller’s May Cash Report Shows State Revenues Meeting Revised Estimates

June 19, 2017

State Controller Betty T. Yee reported on June 9 that California revenues of $8.39 billion for May beat expectations in the revised budget proposal Governor Jerry Brown’s released last month by $133.4 million.

Total fiscal year-to-date revenues of $105.27 billion are $1.29 billion below projections on which the 2016-17 Budget Act was based and $2.70 billion higher than total revenues for the same 11-month period in FY 2015-16.

May personal income tax (PIT) receipts of $4.12 billion were $35.2 million shy of expectations laid out in the governor’s May Revision. For the current fiscal year, California has collected total PIT receipts of $71.78 billion, $265.7 million less than anticipated in the 2016-17 Budget Act...

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Trump’s Proposed Education Budget Slammed by Many Education Stakeholders

June 5, 2017

On May 23, the Trump Administration announced its budget proposal for education programs in Fiscal Year 2018, calling for reduced funding to a number of existing U.S. Department of Education programs, as well as increased support for charter schools and choice programs. To see the U.S. Department of Education’s overview of the Trump Administration’s education budget proposal, click on the link below:

https://www2.ed.gov/about/overview/budget/budget18/index.html

U.S. Secretary of Education Betsy DeVos, who was nominated for the post by Trump, supported the budget proposal, saying:

"This budget makes a historic investment in America’s students. President Trump is committed to ensuring the Department focuses on returning decision-making power back to the States, where it belongs, and on giving parents more control over their child’s education...

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National School Boards Association Offers Analysis of Trump Administration’s FY2018 Budget Request to Congress

June 5, 2017

 

(On May 24, the National School Boards Association released the following analysis of President Trumps Fiscal Year 2018 budget proposal for education:)

On May 23, 2017, President Trump released the Administration’s FY2018 budget request to Congress which calls for a number of program eliminations within the U.S. Department of Education, a few of which would impact K-12 programs. For a number of programmatic changes that are proposed, the Administration is urging school districts and states to utilize existing Title I funding to address priority areas, such as those for effective teachers and leaders (Title II), tutoring, and extended day learning opportunities (Title IV). While the budget request calls for a record increase of $1 billion to Title I grants for disadvantaged students, the increase in funding would be targeted to school choice...

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Stakeholders Quick to Respond to May Budget Revision

May 22, 2017

Education groups, business groups and other stakeholder offered varying assessments of the Governor’s May Budget Revision, announced on May 11.

The Association of California School Administrators (ACSA) said:

“The governor continues to note the state’s economy is three years past the traditional recovery period following an economic recession and warns of the uncertainty created by the potential repeal of the federal Affordable Care Act. Gov. Brown also notes that the state continues to face ongoing liabilities such as state infrastructure and retiree health care benefits. Further, it was noted that the state has added considerable ongoing commitments since the passage of Proposition 30 and that the budget is projected to return to a deficit since a recession at some point is inevitable. Despite these cautionary warnings, the May Revision economic forecast reflects continued growth over the next four years...

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