Tuesday, June 29, 2010

AP: More school districts struggle with money problems

This from the Associated Press:

California education officials on Tuesday reported a sharp jump in the number of school districts that are facing severe financial stress because of the state's budget crisis.

A record 174 districts may not be able to meet their financial obligations over the next two years, a 38 percent increase since January, according to the California Department of Education, which released the semiannual report on district finances.

"The economic picture for our schools regrettably is bleak," said Jack O'Connell O'Connell, the state superintendent of public instruction. "This clearly is a result of inadequate funding of our schools. The lack of funding is hurting our children, our schools, our neighborhoods and our future."

The 174 districts on the state's fiscal early warning list represent about 16 percent of California's 1,077 local education agencies. The number of listed districts grew from 126 in January and 108 in June 2009.

Fourteen of the districts received a "negative certification," which means they may not be able to pay their bills in the current or next fiscal year. The other 160 districts received "qualified certification," which means they may have trouble meeting their obligations in the next two fiscal years.
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1 comment:

  1. What percentage of school district revenues actually go straight into the classroom?

    How much of funding has to be used for covering retiree pension/healthcare obligations?

    We know that underfunded pension obligations are what is bankrupting the city of San Francisco (hence Matt Gonzales and Jeff Adachi are working to pass pension reform). We know about the city's problems because of TRANSPARENCY.

    Is anything at all transparent at 555 Franklin St.?