In the 1990s, teachers' and other educators' salaries increased enough to make Georgia number one in salaries in the South and solidly in the Midwest across the nation. Since 2004, school districts have been trying to make do with much less as this recession continues to force more cuts. Georgia has a very high unemployment rate of 10.25%, a high foreclosure rate of 3.25%, and a drop in revenues statewide from $17.7 billion in FY2008 to $14.5 billion in FY2012. The decline in state revenues has greatly impacted education finance. Whereas the state is supposed to fund 80% of the Quality Basic Education Act (QBE) funding, in FY2010 the State funded only 64.98%--leaving a gap of 15% that will either force local school districts to cut more or find more local funding. In 2010, Governor Purdue appointed a Special Council on Tax Reform and Fairness for Georgians. While the recommendations have been made, the legislature decided it needed more time to discuss the issues. Newly elected Governor, Nathan Deal, appointed a taskforce to review the QBE, Georgia's K-12 funding system. The taskforce is set to begin its work in July of 2011. (Contains 2 tables and 2 footnotes.)