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Looming deficits could push Los Angeles Unified into bankruptcy, panel says

from Los Angeles Times

The Los Angeles Unified School District is facing a looming, long-term deficit that could force the system into bankruptcy, a panel of experts has concluded in a new report obtained by The Times. The group, which met in private over the last several months, concluded that L.A. Unified will face a budget deficit of $333 million in the 2017-2018 school year, an additional $450 million the following year and $600 million more the year after that. This year's general fund totals about $7.1 billion. more

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