Wednesday, February 27, 2008

Doomsday scenario takes shape


photo by finepixxler
The looming financial crisis just got personal. The BOE announced that the current projected deficit is a whopping $49 million. As expected, and as has been done many times in the past, the district is covering all bases and sending out layoff notices to about %10 of its staff. 140 teachers and 395 teachers. Ouch. Kim has a detailed accounting of where the layoff notices will hit.

In the past these notices have been pro forma. Headcount reductions, when they have occurred, have been reached by attrition. This time the whole it pretty damned big. Rainy day fund or not, this figures to be painful.

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posted by KC @ 10:24 AM   comment

3 Comments:

At Wed Feb 27, 11:20:00 AM, Anonymous Anonymous said...

from leftinsf:
Under the requirements of the Rainy Day fund, the funds can only be
released if there is impending layoffs. It is hoped that the City
will provide $30 million from the Rainy Day fund to stop many of the
layoffs.

 
At Wed Feb 27, 12:08:00 PM, Blogger KC said...

So the rainy day fund could cover $30M out of $49M. And the state budget picture will change. So most of these layoffs will be averted. I've been saying that the early budget battle noise can be discounted.

But it sure does look like there will be some pain inflicted this year.

 
At Wed Feb 27, 07:58:00 PM, Anonymous Anonymous said...

end the occupation in iraq..
get the economy back on track.
jeez.

 

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