Oakland Unified School District's budget is in even more trouble than was originally thought back when it was finalized in June.
District officials said when the final accounting for the Oakland Unified's revenue and spending for 2024-2025 was recently completed, it showed the "Unrestricted General Fund" balance dropped from about 58-and-a-half million dollars to nearly 56 million.Currently, OUSD is outspending its revenues by about four million dollars every month.
The Oaklandside reports the numbers show that the district is now projected to fail to meet both its own policy of maintaining a three percent reserve fund and the state mandate of maintaining a two percent reserve fund by next June.
The bad financial news comes on the heels of a major milestone in the district's history -- it was able to emerge from more than 20 years of state control in June.
If OUSD fails to get a handle on its projected deficits -- more than 70 million dollars for the next two fiscal years -- it could again wind up in state receivership.
