LEUSD Facing Financial Uncertainty, According To State Report

The Lake Elsinore Unified School District is again facing financial uncertainty, as it's been listed among 92 local educational agencies (LEAs) statewide facing "serious" financial challenges, according to a new report.

The same report released a year ago also listed the district in the "qualified" category, meaning it's not clear if the district will meet its financial obligations for the current or two subsequent fiscal years, according to the California Department of Education.  

A total of nine school districts in Riverside County were named on the list.

The LEUSD's budget is listed at $164.2 million. That number is based on the budget that was certified at the end of January, according to Tina Jung with the state department of education.

Even though the news isn't good for the district, it's also not as bad as it could be.  A more serious ranking -- a "negative" -- was awarded to a total of eight LEAs in the state, according to the report.

The qualified certification provides an opportunity for a county's Office of Education to step in and lend whatever assistance may be needed to address funding issues, according to state officials.  Once a school falls into the negative category, the county may intervene in the district's finances.

The California Department of Education pointed out that last year, a record 188 LEAs were listed as qualified or negative, but that number has ben cut in half.

“When the number of districts struggling financially is cut in half, we know we are making tremendous progress—especially after years of tough budget cuts,” Torlakson said. “But the 92 districts that still face financial jeopardy represent some 1.7 million students, and we must continue our work to get them on solid fiscal ground. Thankfully, voter approval of Proposition 30—and the budget proposal that reflects it—keeps us firmly on that path.”

According to the report, the classification was handed down to the LEUSD based on financial information and projections submitted to the state by the April 16 deadline.

"These certifications predate the Governor's May Revision to the proposed 2013-14 state budget," the report added.  "Because these Interim Status Reports are snapshots in time, the LEAs' financial status may have changed since these certifications were collected."