The Alameda County Office of Education is stepping in to assist the Oakland Unified School District (OUSD) amid an alarming financial crisis. With the district facing projected insolvency by 2025, the county superintendent has appointed financial advisers to help the board develop a budget that meets its obligations. The district's current fiscal situation shows expenses vastly exceeding revenues. If corrective action isn't taken, OUSD risks running out of cash as early as November, increasing the likelihood of a state takeover and loss of local governance.
Without significant intervention, the district is projected to run out of cash during the 2025-26 school year, leading to significant destabilization for students and staff, necessitating another bankruptcy loan from the State, and forfeiting local decision-making authority.
The superintendent is serious about a possible takeover, but I also think she's giving us lots of support to avoid that. They really still do want to see us exit receivership, but it's on us.
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