Wagner's statement in her “newsletter” The First Interim Report shows that, with financial obligations met, the district is expected to be fiscally solvent and “in the black” at the end of the 2004-2005 school year In Los Angeles. County Office of Education letter dared 1-14-05 First Interim projection, the operating deficit would be ($157,291),
The audited financial statements for the period ending 6-30-04 shows the amount of 225,404 in revenue exceeding expenses. We think that number is erroneous as lease payments of 156,376 are not clearly visible. Even so, under the worst case, this would mean that Wagner's statement that we were in a deficit in 2003/2004 to be wrong. And similarly, her statement that we are in the black for 2004/2005, because of the “brilliant” closing of the Acton School, are just plain wrong.
We are in a deficit now, after the closing of the Acton School.
We are overcrowded and lost half of CSR and trying to spend 350,000 to 550,000 to dance modulars for nothing,, all in her ludicrous claim that we are saving money. Most of Wagner's decisions seem to be based on flawed and incorrect financial data that she places in her writings without allowing the community to see the real source documents.
Wagner needs to appoint his new financial committee to assist the district's new accounting person in preparing factual information that is not filtered through Wagner's eyes.