Issue review : school district cash reserve levy.

During the recent economic crisis, school district budgets have been impacted by state school aid funding shortfalls and state aid reductions due to across-the-board general fund reductions in fiscal year 2009 and fiscal year 2010. Additionally, in fiscal year 2011, the state school aid appropriation was capped and was 156.1 million dollars short of fully funding the state portion of the school aid formula. This issue review examines the impact that the reductions in state aid have had on school district cash reserve levies.