Their findings? The district has $5.6 million less in its general fund than it thought. There’s also a $9 million deficiency in the payroll liability account, bringing the grand total to $14.6 million.
Maybe it’s a good thing former state administrator Randolph Ward drew down the last $35 million of the $100 million state loan in case of emergency. The district might have to use it. That, or borrow cash from other funds.
You can find the presentation here, which explains how the mess came about. It will be discussed at Wednesday’s board meeting. Here’s the full agenda and a link to a Trib story about the latest development.
image from Carla216’s photostream at flickr.com/creativecommons