State, school budget cuts: 100% funding if CAFR billions, trillions disclosed
Our high school principal asked our staff what suggestions we have to address our school and district’s budget cuts. You are welcome to adapt and share my response:
SRVHS budget/$ concerns versus California’s off-budget surplus billions, trillions
Dear Ruth and Social Science colleagues,
At our staff meeting, Ruth spoke of our parents contributing ~$1 million of their own money, and opened conversation for our staff to address our #1 issue of money and improved budgeting. I am willing to contribute a detailed response. I invite you to invest the time to read the following and/or allow me to brief you over a lunch or your conference period (I’m available periods 1-3 this semester), because I can document an existing solution.
As you may know, last April I was one of six international speakers at the Claremont Colleges’ monetary reform conference. We addressed this very topic of decreasing public budgets and increasing debt, and three areas of proven historical solutions. I’ll address one with you now.
This solution is professional economic cost-benefit analyses of California’s off-budget ~$600 billion in surplus taxpayer cash and investments. Professional and public consideration will conclude structural changes would instantly fully fund California’s budget. This $600 billion is disclosed in California’s 2011 Comprehensive Annual Financial Report (CAFR). About $100 billion is in cash, and $500 billion for investments claimed to fund California public pensions. To put this in perspective, our SRVUSD budget cuts are part of California’s budget deficit of $16 billion.