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California Delays $4 Bln Education System Payment
FOX Business News ^ | 7/10/09 | Stacey Delo

Posted on 07/10/2009 2:06:16 PM PDT by Kartographer

California delayed a $4 billion payment to its Department of Education system on Friday as the state continues to struggle with a budget shortfall of more than $25 billion. The payment, known as the Principal Apportionment, is the largest annual payment of state funds to California's public education system. The money goes to schools to pay for a wide range of things including salaries. The payment was scheduled for today, which is the last payment for the 2008-09 fiscal year, but will instead be issued on July 30, State Superintendent of Public Instruction Jack O'Connell and State Controller John Chiang said Friday in a statement. California has also issued 91,000 IOUs totalling $354 million as of late Wednesday.

(Excerpt) Read more at foxbusiness.com ...


TOPICS: Business/Economy; Government; US: California
KEYWORDS: ca2009; californiaious; educationfunding; iou
How are they going to pay for all those illegals to go to school in the fall?
1 posted on 07/10/2009 2:06:16 PM PDT by Kartographer
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To: Kartographer
When I don't make my payments, people show up to take my goodies...

Next time the mortgage payment is due, I'll just provide an IOU.  I'm sure they won't mind.  Perhaps I should just delay the payment.  It seems to work for the state.

                          The following is directed to Freepers who haven't donated or signed up for monthlies yet...



16% is good.  100% is better.  You know you're going to do it.  Pull the trigger!  You don't have to pay it all now.  $5 now, $25 next week, $10 later... keep the ball rolling.

Monthly donorship is a good way for us to avoid having to do the Freepathons.  Besides, it's a great way to pony up in style.
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Check this out.  There's an added incentive for a limited time only.  (Always wanted to type that...)


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Jump into the Monthly Donorship special thread too.


2 posted on 07/10/2009 2:12:03 PM PDT by DoughtyOne (_Resident of the United States and Kenya's favorite son, Baraaaack Hussein Obamaaaa...)
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To: Kartographer
When will this house of cards finally fall. The collapse of New York State and California are needed to finally put a knife into the welfare state. When these two bastions go belly up and start cutting benefits to illegals, welfare queens and employee unions it will be the go ahead for all the other states to start doing the same. After all a Liberal never makes a mistake, just ask them. So if the two most Liberal states cut off aid to illegals and slash the teachers and employee unions benefits then it must be the right and proper thing to do.

Besides there will be more than a little Schadenfreude in watching San Francisco and LA burn (figuratively and quite possibly literally) when they cut off the money for nothing.
3 posted on 07/10/2009 2:15:25 PM PDT by GonzoGOP (There are millions of paranoid people in the world, and they are all out to get me.)
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