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District finance chief warns of projected cash erosion; board discusses potential $400,000 relief from Sacramento
Summary
CFO-level presenter Rafael Guzman told the board Inglewood had about $142 million in March cash and projects ending June with about $128 million; he urged continued monitoring and said proposed state relief championed by Assemblywoman Tina McKenner—about $400,000 annually—would be unrestricted and budget allocation decisions would follow.
Rafael Guzman presented the district’s March cash‑flow analysis on May 7, reporting roughly $142 million available cash, $9.9 million received and $13.2 million expended in March, leaving an ending cash balance near $139.2 million and a projection of roughly $128 million by June. Guzman explained monthly variances (including a large February retroactive payroll payment) and cautioned that some projected service expenditures might not materialize, so monitoring remains critical.
Guzman said districts must track multi-year cash commitments because shortfalls can lead to receivership. He highlighted special education as an area that is chronically underfunded and urged collective advocacy for increased special‑education funding and COLA adjustments for staff. "If we could advocate for increased special education revenues, that would really help this district meet its goals financially," he said.
Board President Margaret Turner Evans asked about an item mentioned in Sacramento advocacy meetings: a potential payment relief championed by Assemblywoman Tina McKenner that could save the district approximately $400,000 per year in receiverhip-related repayments. Guzman responded that the funds, if secured, would likely be unrestricted and the district would determine allocations through the next budget cycle. "We'd have to look at the budget for next year," he said; "once we know, we'll be able to give you a better detailed analysis."
Board members discussed using any such relief for special education, salaries or other priority areas, and thanked staff for monthly monitoring of cash. Guzman closed by reiterating the need for continued fiscal vigilance and state advocacy.
