On balance, this is a very good budget for K-14 education agencies in California.

As the school year winds down throughout the State, legislators in Sacramento are coming to closure on new legislation and decisions for the 2014-15 California state budget. This year’s budget focuses on ongoing spending in the Local Control Funding Formula (LCFF), brings a mix of funds that can be used for one-time and ongoing spending, and takes a bold approach to resolve the unfunded liabilities in the California Teachers State Retirement System. California schools are in the midst of unprecedented reforms, and a key part of making those reforms succeed will be returning school districts to solvency after many years of budget cuts.

The Policy Analysis for California Education organization, in partnership with EdSource, has made available a video of a webinar featuring California’s Legislative Analyst Mac Taylor on Governor Brown’s May Revision of the 2014-15 state budget, what it means for schools and the fiscal outlook for education funding generally. The video provides a thoughtful, information-rich discussion on the state budget in the wake of Prop. 30 and the Local Control Funding Formula, and includes the forecast for Proposition 98 funding and implications for schools as they implement the Common Core standards and assessments.