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State: California school districts hit finance crisis

Posted: May 21, 2012 3:30 p.m.
Updated: May 21, 2012 3:30 p.m.
 


LOS ANGELES (AP) - The California Department of Education says a record number of school districts are in financial dire straits this year, with a dozen facing insolvency.

State Superintendent of Public Instruction Tom Torlakson said Monday that 188 districts have received either negative or qualified financial ratings from the state.

That's up 45 from a year ago, and up 61 from earlier in the 2011-12 academic year.

County education offices have had to step in to oversee 12 districts that either do not have money to finish this school year or to make it through the 2012-13 year.

Torlakson says state funding cuts have caused many districts to plunge into an unprecedented budget crisis.

Copyright 2012 The Associated Press.

 

 

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