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.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
62°