A letter that signaled the Oakland Unified College District was in monetary bother now not holds as a lot water, based on the very company that despatched out that letter within the first place.
The Alameda County Workplace of Schooling rescinded its “going concern” letter to the OUSD in a letter Thursday. The unique letter had known as for elevated oversight of the district’s funds.
Alameda County Superintendent of Colleges L.Okay. Monroe wrote in a letter to Oakland college board president Gary Yee on Thursday that she is “keen to take away the Lack of Going Concern dedication efficient instantly.”
“One of many necessary issues it alerts is it reaffirms that the OUSD shouldn't be in monetary disaster,” mentioned Mike Hutchinson, a member of the district college board and the director for District 5. “That’s an necessary truth, as a result of we’re not [in financial crisis]. We have now giant reserves. We’re projecting surpluses, and we nonetheless have COVID aid dollars — greater than $100 million — left. The funds are literally higher than they’ve been in a very long time.”
Michelle Smith McDonald, a spokeswoman for the Alameda County Workplace of Schooling, mentioned the county’s authentic place was supported by state educators however didn't have another remark. Smith McDonald mentioned Monroe’s letter to Yee stands because the workplace’s assertion.
Yee wrote the unique letter in November through which she cited considerations for the OUSD’s price range in future years, and that in consequence, the district’s monetary choices might fall into the arms of the Monetary Disaster Administration Motion Staff.
The change in coronary heart got here on account of the “most up-to-date Governing Board actions supporting OUSD’s Funds projections, and the OUSD workers directed to implement the detailed price range balancing options.”
Monroe beforehand warned the Oakland college board they weren’t doing sufficient to cut back workers ranges or adopting a long-term monetary plan, and have been counting on one-time revenues to remain afloat as a substitute of creating the deep funding cuts wanted. State officers concluded the district hadn’t achieved sufficient to unravel its looming price range deficit particularly because it faces declining enrollment, and the county workplace might intervene.
She additionally mentioned that “to keep away from a Lack of Going Concern designation sooner or later,” the district should meet situations that embody third interim price range with college board-approved reductions by June 1.
Hutchinson known as Monroe’s change of plans a “big aid,” but in addition criticized her for what he mentioned was an unfair assault.
“It’s actually unfair that the Alameda County superintendent did this to us on this time interval,” Hutchinson mentioned. “It was an assault on our repute saying we couldn’t handle our funds, and she or he was gonna step in out of the blue throughout a pandemic, It’s necessary that our group know that we're managing our funds.”
In her letter, Monroe wrote that “the work of attaining fiscal stability for Oakland Unified is vital to the District’s skill to serve the scholars and households of Oakland.”