Sandra Emerson, Staff Writer
Posted: 05/03/2013 07:38:31 PM PDT
Updated: 05/03/2013 11:34:47 PM PDT
UPLAND — The Upland Unified School District will need to identify $9 million in cuts for the 2013-14 fiscal year budget over the next two months or face insolvency.
The district’s Board of Trustees was updated Thursday on the budget and heard from a fiscal advisor assigned to the district by the San Bernardino County Superintendent of Schools.
The county issued the district a negative certification for its second interim budget in April, after finding the district will be unable to meet its financial obligations in 2013-14.
“We all knew we were deficit spending. We all knew we were trying to get through this. We had a rainy day fund and it’s been raining for a long time,” board President Wes Fifield said.
“There is hope with the new money coming in from everything with the new propositions, but we don’t know what that money’s going to be. We have to make decisions now based on what’s going forth. ”
The district has until the end of the month to submit a new budget to the county showing they will be able to meet its financial obligations over the next two fiscal years.
The budget must then be adopted by June 30.
The district was given a qualified certification in December.
When Upland Unified officials submitted its second Interim budget, they were seeking another qualified certification, meaning they were confident they could pay their bills in the current fiscal year, but may have difficulty over the next two fiscal years.
Due to the amount of deficit spending by the district – $7.9 million this fiscal year and $9 million next fiscal year – the county downgraded Upland Unified to a negative certification.
The district is also unable to meet it’s 3 percent reserve requirement.
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