LAO Releases Updated Revenue Figures - Feb. 27, 2012
This morning, the nonpartisan Legislative Analyst's Office (LAO) released updated revenue numbers for the current (2011-12) and budget (2012-13) years. I wish I could tell you that today's e-mail was when we got to turn that frown upside down, but it's more bad news.
Specifically, the LAO projects $3 billion in lower revenues in the current year and $3.5 billion less in the budget year. In other words, if the LAO's forecast materializes, the governor's proposed 2012-13 state budget is $6.5 billion out of balance--with or without the tax measure. And, this assumes $2 billion comes to the state's coffers in the next eighteen months from the initial public offering of Facebook. The revenue shortfall is virtually all in personal income tax, and the LAO actually projects a larger sales tax collection in 2012-13 than the governor.
Altogether, it looks like we're in for another big budget fight, even after the issue of conflicting tax measures gets solved (if at all). We are therefore dusting off our Capitol Days advocacy events to invite you to Sacramento on either March 28 or April 24 to participate in targeted lobbying in advance of key legislative budget hearings. The events are free.
Get more information and sign up today at:
Additionally, next Monday is the March in March, an intersegmental march and rally to highlight the cuts affecting public higher education. We urge your college to participate and, if possible, send a busload of students, faculty and staff. For more information, visit:
California's three systems of higher education were cut more than $2 billion in 2011-12 alone, and the cuts come on top of several years of disinvestment. Countless faculty (including over 5,000 too often faceless part-time faculty members), classified staff and administrators have been laid off in community colleges, while hundreds of thousands of students who should have been served were not.
The California dream of an affordable, accessible higher education for any student with the ability to benefit is not dead, although it is on life support. You can breathe life into it through your advocacy this year.
I hope to see you in Sacramento soon.
Community College League of California