The Capitol Advisors Group is presenting their May Revision Budget Perspectives Workshop on May 26 at 9 a.m. for Santa Barbara County. The workshop will be held in person at SBCEO in the Auditorium. Below, please find registration information from Capitol Advisors. There is no fee to participate in the workshop.
Please feel free to forward this information to others in your district.
Thank you,
Steve Torres Associate Superintendent, Administrative Services Santa Barbara County Education Office (805)964-4711 ext.5700
May Revision Budget Perspectives Workshop
Friday, May 26, 2023 9:00am to 11:00am
Santa Barbara County Education Office
Auditorium
4400 Cathedral Oaks Rd. Santa Barbara, CA 93110
To register, please use the link below. Please note that workshop is not virtual, but will be held at the county office.
May Revision Budget Perspectives Workshop, Santa Barbara CEO<budgetperspectivesworksho.regfox.com/may-revision-2023-24>
We have been tracking the economy and revenue collection data and although much is still uncertain about the budget situation for FY 2023-24, it seems likely that revenues will be lower than the projections used in the Governor’s January Budget. The Legislative Analyst’s Office (LAO) currently predicts that there is an 80% chance that revenues will be down compared to January, with their best guess that revenues will be about $5 billion lower. After rapid revenue growth and record-breaking General Fund (GF) and Proposition 98 spending over the last few years, this flattening out and downturn are not unexpected.
Fortunately, both the GF and Prop. 98 have healthy reserves built up, and significant one-time spending in last year’s budget leaves us some cushion to maintain most or all on-going funding levels and hopefully provide a full or nearly full COLA to the LCFF and on-going programs (note that with inflation high we are expecting a large COLA, likely above 7.5%).
Capitol Advisors will discuss proposed funding and programs in the May Revision, as well as advocacy plans related to:
* Maintaining LCFF gains and providing a full COLA * Funding, policy and implementation issues related to expanded learning, TK, universal meals, community schools, special education, etc. * Continuing efforts to address declining enrollment and ADA fluctuations * The political dynamics that will impact the Legislature’s consideration of the Governor’s proposal
This workshop is provided at no cost and is presented by Capitol Advisors in collaboration with ACSA, CSBA, SSDA, AALRR and CLIMATEC.