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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....

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....