Days before the scheduled May 14 release of the revised state budget, the Newsom administration released dismal economic projections, forecasting a $54 billion deficit by June 2021. That would translate to a record $18 billion revenue shortfall for K-12 schools and community colleges.
With nearly all of it in the coming fiscal year, schools could face an unprecedented budget cut of 20 percent — unless Gov. Newsom and the Legislature find more money for education or Congress steps in with aid, as it did during the Great Recession.
This week, we explore those and other options with school consultant John Gray, the president and CEO of School Services of California and a school finance expert who helped districts weather the Great Recession. He predicts the state will jury-rig ways to blunt some damage, but cuts for districts will be painful.
For background to this podcast, check out the following from EdSource:
- Gov. Newsom now projects $18 billion shortfall in revenue for K-12, community colleges
- The coming storm: big budget cuts, rising costs for California schools
- Advocates urge Newsom to order schools not to permanently close any buildings
- California school funding formula has a spending loophole; is a recession the time to fix it?