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ID:20990947
大小:839.00 KB
页数:13页
时间:2018-10-18
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1、InglewoodUnifiedSchoolDistrictStateIntervention•Presentedby:DebiDeal,CFEFiscalInterventionSpecialistAnthonyL.Bridges,CFEDeputyExecutiveOfficerWhatStateReceivershipMeansCashshortfallrequiresStateLoan,referredtoinEdCodeasEmergencyAppropriationUrgencyBill
2、,sponsoredbylocalrepresentativestotheStateLegislatureRequirestwothirdsvoteofeachhouseoftheLegislatureRequiresGovernor’ssignatureProcessmaytakefrom4-6monthsStateInterventionProcessAloanresultsintheStatetakingcontroloftheDistrictThedegreeofstatecontroli
3、sdeterminedbythesizeoftheloanrelativetothedistrict’sbudgetEd.CodeSection41326(a)statesthatiftheloanislessthantwicethesizeofthedistrictsrequiredreserve,aStateTrusteeisassigned:StateTrusteeassumescontroloverthefinancialaspectsofthedistrictStateInterventi
4、onProcessIfthesizeoftheloanexceedstwicethesizeofthedistrict’srequiredreservelevelthefollowingoccurs:SchoolBoardlosesitsauthorityandbecomesadvisory(E.C.41326(c)(1)Superintendentisnolongeremployed(E.C.41326(c)(2)Stateadministratorisassignedandassumesallp
5、owersoftheBoardandSuperintendentStateInterventionProcessStateloan(Principal&Interest)istypicallysetupandrepaidovertwentyyearperiodTrusteeorAdministrator–statecontrolremainsuntiltheentirebalanceoftheloanispaidTrusteeorAdministrator-bothreportdirectlytot
6、heSuperintendentofPublicInstructionnotthelocalboardorcommunityStateInterventionProcessSizingoftheStateLoanLoanissizedtoaccommodatetheanticipatedshortfallincashoverthelifeoftheloantomeetfinancialobligationsAllcostsofensuringfiscalrecoverywillbecomethere
7、sponsibilityofthedistrictandareaddedtotheamountofthestateloan(E.C.41328)CostoffiscalrecoverywhenaStateAdministratorisassigned:TotalcompensationcostfortheStateAdministrator(41326(b)(8)StateInterventionProcessSizingoftheStateLoan,continuedThecostofadditi
8、onalstaffingasdeterminedbytheStateAdministratorthatmaybenecessarytoensurethedistrict’sfiscalrecovery(E.C.41326(b)(9)Thecostofmanagementreviews,fiscalrecoveryplanandthecostoftheinitialcomprehensivereviewandfollowupreviewseachsixmonthsint
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