Alameda

A:

Alameda County school districts will have to shed an estimated $90 million when the first dollar goes into Proposition 2's School Account.  This will force the reduction of Alameda school districts' local carryover funds from an average of 10% now, to just 5%.  The two largest districts, Oakland Unified and Fremont Unified, will be allowed just 4%, while most districts can carry just 6%.  

Compare these allowed carryovers with the California Department of Education and Government Finance Officers' Association recommendations of 15-17% in reserves -- and the state's late payments to schools in all recent fiscal years.  Alameda schools will be allowed to carry just $94 million forward -- yet the State had not paid Alameda districts $320 million it owed them in June 2012, $150 million in June 2013 ... and $140 million just this June 30th, a few months ago (incidentally, two fiscal years after Prop 30 passed).

Note that Oakland Unified is shown in red because the California Department of Education "qualified" its certification of the district's financial condition during some or all of the 2012-2014 period.  Despite its challenged financial state, OUSD would have to pay out $2 million of its ongoing operating funds were the PSSSA to receive any deposits.

Alameda data table

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