Features

Oakland schools to get $50 million

Monday November 11, 2002

OAKLAND – A $50 million cash advance from the county to help the Oakland School District pay its teachers will likely be approved this week, according to county officials. 

The school district’s cash shortage is unrelated to the fact that the district overspent by $37 million last year after gravely miscalculating its budget, officials said. 

The district typically borrows tens of millions of dollars from private lenders around this time of year to make ends meet until state funds come in, officials said. 

The budget crisis was discovered in recent months as the district switched to a new accounting system.