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Los Angeles Unified is required by law to submit a Multi-Year Projection (MYP) of the General Fund to our authorizing agency, The Los Angeles County Office of Education (LACOE), annually with our adopted budget. California Assembly Bill 1200 (Chapter 1213/1991) and Assembly Bill 2756 (Chapter 52/2004) were enacted in response to near bankruptcies of several school districts, an increase in requests for state emergency loans, and an increase in financial distress. As a result, school districts are required to submit a MYP of the General Fund that includes the current fiscal year and two subsequent fiscal years. The MYP is considered by LACOE as part of its fiscal solvency review process. For further insight into the District’s MYP, please see our second interim presentation which highlights our most recent MYP projections to LACOE.
