Endorsement: Four for Los Angeles Community College District Board of Trustees
This week, the California State Legislature approved a bill that would fund the next several fiscal years by borrowing money through bond sales. The borrowing allows for the state treasurer to fund the full amount of the state’s borrowing bill if the borrowing bill does not pass this session. California legislators also provided the governor this week with new authority that gives him the ability to overrule a department head if the governor has a conflict of interest. That provision is not as broad as it might sound, but it gives the governor oversight over state public safety agencies.
Additionally, the bill passed the California Assembly and the state Senate, and the governor has signed it into law.
A few of the many impacts of this legislation include:
Los Angeles Community College District
LACCD has been facing significant financial challenges since 2007.
The district has long struggled to meet the expectations of its voter-approved mandate to provide higher education at a reasonable cost to every student. The district estimates it has spent $60 million in the last three years preparing for its own funding crisis. It’s also the first one in California to be forced to cut back on instructional and extracurricular programs.
All of this comes at a time when LACCD faces increased pressure to provide affordable housing. For the first time, the board has the option of approving some of the new housing proposals that have come up in recent years.
The district’s chief financial officer called the legislation a “big win.”
“We’re in the early phase right now of implementing some of these measures,” said Mark Poulton. “We are going to continue to work with our local governments and agencies, which is a great victory for everyone, including taxpayers, who are paying for the increased costs.”
The bill authorizes the district to borrow $3.3 billion from its General Fund for the next three years.
“This is the result of a great deal of work by many in the community in the past few