SAN FRANCISCO -- In a swipe at Gov. Arnold Schwarzenegger's proposed cuts in education funding, San Francisco Mayor Gavin Newsom Friday called for the city's "rainy day" reserve funds to be made available to the San Francisco Unified School District.

"We will not let our public schools suffer because of poor fiscal planning at the state level," Newsom said in a prepared statement. "The City has a responsibility to support our students, teachers, and schools in their efforts to provide the highest quality education to our children."

As the state struggles with a multibillion dollar budget deficit, the governor's proposed education funding reductions could cost the San Francisco school district up to $40 million, about 10 percent of its budget, according to the mayor's office.

"The Rainy Day Fund is a short-term solution, but one that our children may desperately need," said School District Superintendent Carlos Garcia.

The funding still requires the approval of the Board of Supervisors.