San Francisco

A:

San Francisco Unified School District will have to shed an estimated $10 million when the first dollar goes into Proposition 2's School Account.  This will force the reduction of SFUSD's local carryover funds from 6% down to 4%.   

Compare these allowed carryovers with CDE and GFOA recommendations of 15-17% in reserves -- and the state's late payments to schools in all recent fiscal years.  SFUSD will be allowed to carry just $23 million forward -- yet the State had not paid SFUSD $25 million that the state owed it in June 2012 or just this June 30th, a few months ago -- two fiscal years after Prop 30 passed.

San Francisco data table

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