Contra Costa

A:

Contra Coast County school districts will have to shed an estimated $140 million when the first dollar goes into Proposition 2's School Account.  This will force the reduction of Contra Costa school districts' local carryover funds from an average of 16% now, to just 6%.  The largest district, Mount Diablo Unified, will be allowed just 4%, while most districts can carry just 6%.  

Compare these allowed carryovers with 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.  Contra Costa schools will be allowed to carry just $76 million forward -- yet the State had not paid Contra Costa districts $207 million it owed them in June 2012, $101 million in June 2013, and $89 million just this June 30th, a few months ago (incidentally, two fiscal years after Prop 30 passed).

Note that John Swett Unified and Mount Diablo Unified are shown in red because the California Department of Education "qualified" its certification of these districts' financial condition during some or all of the 2012-2014 period.  Despite its challenged financial state, Mt. Diablo would have to pay out $31 million of its ongoing operating funds were the PSSSA to receive any deposits.

Contra Costa data table

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