The Local Control Funding Formula replaces California’s overly complex, inefficient and inequitable finance system for K-12 schools with a new funding formula to provide equitable learning opportunities for all California students.
Gives CalTrans and regional transportation agencies additional tools to complete badly-needed highway construction projects faster and cheaper.
Budget Wins for Orange County (2013-2014)
Set aside $1.1 billion as a Rainy Day Fund to ensure that California is protected financially, the first year since 2007‑08 to end with a reserve.
Reduced the Wall of Debt by more than $10 billion by paying down $5 billion in deferred payments to schools, paying off Economic Recovery Bonds one year ahead of schedule, repaying various special fund loans and reimbursing $100 million in mandate claims that have been owed to local governments since at least 2004.
Included $872 million of Cap-and-Trade auction proceeds for greenhouse gas reduction, with an emphasis on assisting disadvantaged communities. The objective was to increase energy, water and agricultural efficiency, restore forests in both urban and rural settings and create incentives for improved recycling.
Directed $428 million toward energy efficiency improvements at K-12 schools and community colleges.