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Tag: "shortfalls"

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Schools Brace for Debt Shock

Schools Brace for Debt Shock

Next year, Laguna Beach’s public schools will be req­­­­­­­­­­­­uired to carry a $68.7 million debt from the state’s teacher-pension fund, an amount that has the potential to overwhelm the district’s $46 million budget and one school officials say they have no clue how to repay. The debt represents Laguna Beach’s share of the currently estimated […]

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Shortfalls Increase City Deficit

Shortfalls Increase City Deficit

Due to two shortfalls in anticipated revenue, the city’s operating budget deficit will increase to nearly $1 million, pressing the City Council to decide on how to manage the red ink in a mid-year budget review this fall.  The revenue shortfall comes from two different sources. In attempts to balance its own budget, state officials […]