I dont think cutting school days will do much good. Schools suck enough as is. Id be more interested in cutting back on some of the extra stuff schools engage in that isnt really necessary. Field trips and such that really are excuses to not have to do anything for a day.
I am sure there is fat in there, it just depends on your definition of fat.

I would be alot more interested in finding out that it doesnt take 6 months to layoff a state employee. Start the process, fine, but it should take two weeks or so, maybe a month, but not 5-6 months. They will prob spend more money trying to layoff people than they would save from laying them off, what with all the consultants they would have to hire and all.