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Legislation co-authored by local State Sen. Steve Glazer (D-Orinda) that would loosen restrictions on school districts’ rainy day reserves has been sent to Gov. Jerry Brown following unanimous approval from the State Senate.
Jointly authored by State Sen. Jerry Hill (D-San Mateo) and Glazer — whose district includes the San Ramon Valley — Senate Bill 751 passed 39-0 on Sept. 14. Supported by the California School Board Association, it would eliminate for most small school districts a reserve cap approved by the State Legislature in 2014.
“I would like to see the cap on school reserves completely repealed, but this measure improves upon current law,” Glazer said in a statement. “I encourage school districts to continue to prepare for a rainy day, which will come eventually.”
In 2014, legislation was approved that limited school districts’ rainy day reserves to 6% of their overall budget under certain circumstances.
The bill passed last week would get rid of that cap for most small school districts and limit when the state could impose a new 10% reserve limit on other school districts.
This is not the first time Glazer has authored legislation on this issue. In 2015 he and Hill were among 16 State Senate and Assembly members who co-authored SB 799, which sought to allow school districts to save 17% of their budget for economic downturns.
