CA State Sen. John Moorlach today released his latest fiscal report, “Financial Soundness Rankings for California’s Public School Districts, Colleges & Universities.”
Some key findings from the new education report:
- About two-thirds of California’s 944 public school districts run negative balance sheets.
- These statements show the most distressed districts could soon reach a tipping point into insolvency and receivership.
- Of the state’s large school districts, those in severe distress include Los Angeles Unified School District, with a negative $10.9 billion balance sheet; San Diego Unified at negative $1.5 billion; Fresno Unified at negative $849 million; and Santa Ana Unified at negative $485 million, the worst in Orange County.