Rainy day funds running dry

The City’s School district can stop holding its breath for a minute because it was granted the other half of its $24 million rainy day reserve funds on Wednesday.

 

After an evaluation about how the district was spending the reserve money  — by mostly to replenishing staffing costs — Supervisor John Avalos said he was happy to save the teachers with the $12.3 million.

 

The district relied on the funds to patch the hole of its $30 million deficit this year that already led to penny-pinching, but it faces another $31 million deficit next year and the rainy day funds have dwindled to about $12 million.

 

 

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