Posts tagged Lack of Going Concern
Op-ed: Los Angeles Schools Run Out of Other People’s Money
August 11, 2026 // Covid dollars from Washington turbocharged hiring at public schools and papered over their structural budget problems. But now that the federal money is drying up, the red ink is starting to gush. According to the Labor Department’s monthly jobs report on Friday, local government education shed 49,600 jobs in July—the leading contributor to the nation’s 23,000 employment decline. Ground zero is the Los Angeles Unified School District, the country’s second largest. Its overseers at the Los Angeles County Office of Education last month warned that the district meets the criteria for a “Lack of Going Concern” designation. In the business world, the terminology means a company is at risk of going bankrupt.