CSBA Issues Statement on Prop 2 and the Trailer Bill Language Restricting School District Reserves
SACRAMENTO, Calif., (November 4, 2014) – The California School Boards Association released this statement today on the passage of Proposition 2 and its call for repeal of the school district reserve cap:
“Now that the Rainy Day Fund will be enacted, we are asking the legislature to act immediately and repeal the reserve cap statutory trailer bill language restricting school district reserves,” said CSBA CEO & Executive Director Vernon M. Billy. “The arbitrary implementation of reserve limits puts school districts at risk of financial insolvency just as the State of California is moving to insulate itself from uncertain future economic circumstances. CSBA continues to aggressively advocate for the repeal of this egregious statute.”
CSBA President and Cupertino Union School District board member Josephine Lucey added that, “Local reserves are critical for district solvency and, more importantly, for the stability of educational programs for each and every student in California. Capping district reserves limits school districts to days, not months, of cash flow and payroll. It’s fiscally irresponsible, and inconsistent with the principle of subsidiarity. CSBA remains determined in our efforts to repeal the statutory limit on district reserves.”
For more information on CSBA’s efforts to repeal to the reserve cap, click here.
About CSBA
The California School Boards Association (CSBA) is the non-profit education association representing the elected officials who govern public school districts and county offices of education. With a membership of nearly 1,000 educational agencies statewide, CSBA brings together school district governing boards and county boards of education to advocate for effective policies that advance the education and well-being of the state’s more than 6 million school-age children. CSBA provides policy resources and training to members, and represents the statewide interests of public education through legal, political legislative, community and media advocacy.
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