West Covina : School Bailout Bill OKd
Gov. George Deukmejian has signed a bill allowing the West Covina Unified School District to obtain up to $3.9 million in state emergency funds to cover an anticipated budget deficit of between $3.1 million and $3.6 million.
An independent audit last month of the district’s financial status blamed the expected deficit, which was made public in April, on inadequate adjustments to the $27-million budget during the school year and incomplete bookkeeping. The district has five years to repay the loan.
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