Public schools in California would receive significantly more money to educate students from disadvantaged backgrounds under a deal announced on Tuesday that would dramatically reshape public school funding in the nation’s most populous state, Reuters reports. The deal, part of a broader agreement on the state’s budget, also gives local school districts more control over how they spend the $55.3 billion that the state expects to allocate for the upcoming fiscal year, which begins July 1. The deal comes as California, which has the ninth largest economy in the world, is experiencing its first budget surplus in years. All told, the state will spend $96.3 billion next year, and set up a rainy day fund of about $1.1 billion…

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staff and wire services reports