L.A. County Assigns Fiscal Adviser to the Lennox School District
The Daily Breeze is reporting that Los Angeles County has assigned a fiscal adviser to the Lennox School District after discovering some serious accounting anomalies.
According to the Los Angeles County Office of Education, the district falsely reported $2.6 million in revenue and never rectified it even after it was notified.
The school district is in a precarious financial position, which has necessitated a $5 million loan from the county. LACOE recently said the district may not have enough in its reserves.
A number of key officials have resigned from the district recently. One of them, former Superintendent Kent Taylor, was found dead in his home last week.
In addition to the appointment of a financial adviser, LACOE will require the district to submit a projection of all fund and cash balances for the current fiscal year. It must encumber all contracts and other obligations, submit a proposal for addressing its financial situation, and undergo a Fiscal Health Analysis by the Fiscal Crisis and Management Assistance Team.