Ojai Unified Facing Insolvency
The Ojai Unified School District is at “high risk” of insolvency, according to a new report from the state's Fiscal Crisis and Management Assistance Team (FCMAT).
The Ventura County Office of Education has also downgraded the district's first interim budget certification from "qualified.” A county analysis concluded OUSD’s three-year budget projection had been overstated by $5.6 million. The county predicts the district will run out of money by the end of next fiscal year.
The district must submit plans for a set of budget cuts totaling $2.3 million by Friday. It must work with a "fiscal expert" to shore up finances under county guidance.
Read more about the district’s budget challenges here.