CA State Senator John Moorlach, a certified public accountant who represents Orange County’s 37th District and serves on the Senate Budget & Fiscal Review Committee and its education subcommittee, says the brewing money problems facing hundreds of school districts across California – including in San Diego County – represents a growing deterioration of their financial stability.
In a report issued in October 2018, summarizing an analysis of the most recent financial statements issued by 944 K-12 school districts, Moorlach found more than 85 percent reported deficits on their general fund balance sheets, something he says indicates that many of these districts “could soon reach a tipping point into insolvency and receivership.”
