Opinion
Targeting the schools’ ‘reserve cap’
School kids at work in a California classroom. (Photo: Monkey Business Images)OPINION: California voters passed Proposition 2 last November to establish a statewide “rainy day” fund. Unfortunately, a one-size-fits-all law, SB 858, also passed last year as part of the state budget process. SB 858 prevents school districts from saving adequately to prepare for their own rainy day by setting a maximum average “reserve cap” of 6 percent on school districts reserves.