Coronavirus economy could cost LAUSD $500 million

May 20, 2020 by

See the source imageWHAT, said Superintendent Austin Beutner at the district’s first board meeting since the pandemic forced schools to shutter

The coronavirus economy will deliver a $507 million hit for Los Angeles Unified’s coming academic year, officials said on Tuesday, May 19, at the district’s first board meeting since the outbreak forced campuses to shutter.

District Chief Financial Officer David Hart offered the grim post-pandemic budget projections for the nation’s second largest school district, which he said was already operating with a structural deficit and facing declining enrollment.

According to his projection, L.A. Unified will approach serious financial troubles in the 2021-22 academic year and potentially fall $450 million into the red by 2023. State law requires school systems to maintain a three-year balanced budget.

“In shorthand, we are balancing our [2020-21] budget, but we are drawing on our reserves to do so,” Hart said. “We have reason to believe the numbers on this page are firm. This is a preliminary estimate and maybe even a little bit light.”

Hart delivered the budget update by Zoom videoconference, the body’s first meeting since it granted Superintendent Austin Beutner with emergency powers to respond to the crisis in March. Individuals were able to make public comment from the district’s downtown headquarters.

Source: Coronavirus economy could cost LAUSD $500 million – Daily News

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