Friday, September 18, 2020

SCUSD No Longer Insolvent ? They Found the Money ??

How is it that SCUSD is no longer insolvent ? 

 Perhaps it is because the inappropriately took the money from the LCFF directed to English Language Learners and used it to cover their budget shortfall.


As we described to the Board  each year for the last 4 yearsl



Less than one month after the Sacramento City Unified School District announced it will run out of cash in Feb. 2021, citing a $40 million deficit, both the district and an independent fiscal adviser said this week that the district serving more than 40,000 students likely won’t go insolvent that soon.

Instead, the financially distressed district and FCMAT, the Fiscal Crisis and Management Assistance Team, said the district is closer to having a $20 million surplus, due to savings from the coronavirus pandemic and overbudgeting on the district’s part.

The district is still in trouble down the road and will likely go insolvent. Mike Fine, chief executive officer at FCMAT, said it’s not a matter of if, but when.


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