Measure EE’s defeat at the ballot box this week may have been a blow to the Los Angeles Unified School District’s hopes to sustain its promises to, among other things, decrease class sizes across the school system (over the long-term).
But if it’s any consolation for Measure EE supporters, district officials unveiled new budget projections on Thursday, showing the rejection of the proposed parcel tax will not drive LAUSD into insolvency — at least not yet.
LAUSD’s projections continue to show the district’s spending will outpace its revenues by, on average, around $500 million annually. But the newly-released figures show LAUSD officials will not need to dip into what is essentially an emergency reserve to balance its books over the next three years.
That’s a change from March, when district officials said they wouldn’t be able to avoid dipping below the “reserve standard” — a statutory minimum amount of money that LAUSD is required to keep in the bank at all times.
That alarmed L.A. County Office of Education regulators, who were already concerned that the district is burning through its savings too quickly. In April, the county threatened to appoint a “fiscal advisor,” with veto powers over the school board, who could force the district to make potentially drastic cuts. Click here to read more: https://laist.com/2019/06/06/lausd_says_it_can_make_do_without_measure_ee_but_the_budget_projections_arent_great.php