Over the past five years, enrollment has declined at nearly three-quarters of California school districts, and losses are expected to continue across nearly all regions through at least the next decade. The California Department of Finance (DOF) projects enrollment to fall below 5.2 million by 2032; the federal government projects an even larger loss--below 5 million students. Projected declines would have significant implications on district finances, operations, staffing, and school facilities. This report presents factors and future projections for K-12 declining enrollment.