Significant Drop in Number of Districts in Financial Trouble, Supt. Torlakson Reports
Supt. of Public Instruction Tom Torlakson is reporting that the number of districts in financial trouble has dropped by more than 50%, year over year.
Last year at this time, 124 local education agencies (LEAs) were in either “negative or qualified” financial status, according to the First Interim Status Report for 2012-13. By May 2013, 92 LEAs were still in a troubled financial place.
The First Interim Status Report, FY 2013-14 notes only 49 LEAs are now in the same difficult straits.
A major funding turnaround for schools has come as a result of voter passage of Proposition 30, which has resulted in billions of new dollars going to schools under terms of the state’s constitutional minimum funding guarantee for public education and budget decisions by Gov. Jerry Brown and the legislature.
“Californians have put our schools back on the path toward economic recovery after several years and billions of dollars of cuts, and they are working hard to continue down that path,” Torlakson said. “Although our work won’t be done until every school is in solid financial shape, this is certainly movement in the right direction.”