CERRITOS : ABC Unified Could Face Insolvency, Report Shows
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The ABC Unified School District could become insolvent within three years unless the school board approves a multimillion-dollar budget-cutting plan, officials reported this week.
The gloomy outlook is contained in a three-year financial projection prepared for the county education office by top administrators of the Cerritos-area school system.
The administration submitted the report, as required by state law, in apparent defiance of the school board majority. The board argued that the district should report that it is in good financial shape.
Top administrators disagreed, however, and said the district’s financial problems have been exacerbated by a tentative contract agreement with teachers that is will go before the board later this month. The contract restores smaller class sizes and pay that teachers lost under terms of an earlier contract.
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