Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • Mutual fund tax rules: How SIPs, switches and losses affect capital gains | Personal Finance
    • What makes SBI Mutual Fund schemes worth investing in?
    • US crypto ETFs draw over $3 billion this week, with nearly $800 million flowing beyond Bitcoin
    • 6 international mutual funds are reopening: 5 delivered double-digit returns in 1 year – is it time to invest?
    • XRP ETFs Attract $38 Million in Just Two Days, but Price Struggles Continue
    • US spot Ethereum ETFs pull in $747M over five-day inflow streak
    • Global Actively Managed ETFs Industry Reaches Record $2.72 Trillion in Assets as Year-to-Date Net Inflows Hit All-Time High of $663.6 Billion
    • Bitcoin ETFs have erased a $5.8 billion hole
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Bonds»Does a Proposed $10 Billion Bond Favor Richer California School Districts? – The 74
    Bonds

    Does a Proposed $10 Billion Bond Favor Richer California School Districts? – The 74

    July 12, 2024



    Get stories like these delivered straight to your inbox. Sign up for The 74 Newsletter

    As lawmakers finalize a school facilities bond for the November ballot, some superintendents from low-income and small districts say the proposal leaves them with an all-too-familiar feeling: underfunded and overlooked.

    “Am I mad? Yeah, I am very mad,” said Gudiel Crosthwaite, superintendent of Lynwood Unified, in a low-income area in Los Angeles County. “California has a responsibility to educate its children, regardless of where they live. This bond favors larger, higher-wealth districts at the expense of districts like ours.”

    Lawmakers struck a deal late Saturday night on Assembly Bill 247, a $10 billion bond that would pay for repairs and upgrades at K-12 schools and community colleges throughout the state. Schools desperately need the money: The current fund for school repairs is nearly empty and the voters rejected the state’s last school facilities bond, in 2020.

    Everyone agrees on the need for money to fix dry rot and build new science labs. But some superintendents, as well as the civil rights law firm Public Advocates, had been pushing for a more equitable way to distribute the money. Currently, the state doles out facilities funding through 50-50 matching grants, which means that districts that can raise a lot of money locally — typically, higher-income areas — can get more state money.

    Public Advocates has threatened to sue California if it doesn’t adopt a wider sliding scale for distributing the money. The current deal does include a sliding scale, but it’s only from 60% to 65%, not the 5% to 90% that Public Advocates wanted. Under the deal’s scale, the state’s wealthiest districts would only get slightly less than its poorest.

    Also under the current proposal, schools could get more money if they hire union contractors for their construction projects. That gives an edge to urban areas where union labor is easier to find.

    Brooke Patton, spokeswoman for the State Building and Trades Council of California, said hiring union workers would benefit any school project because the workers are highly trained and efficient. Union projects also include apprentices, who may be from the local community.

    “Not only does California end up with new school facilities, but also a new generation of workers who can afford to live in California and contribute to our economy for years to come — a worthy investment of public funds,” Patton said. 

    The bill still needs to pass both houses with a two-thirds majority and be signed by the governor this week. To go into effect, it needs approval from a simple majority of voters in the fall.

    Related

    Was Los Angeles Schools’ $6 Million AI Venture a Disaster Waiting to Happen?

    ‘It’s a compromise’

    While the bill doesn’t satisfy every need for California’s schools, it’s better than nothing, some education advocates said this week.

    “It’s not perfect; it’s a compromise,” said Derick Lennox, senior director at California County Superintendents, which represents school administrators and is supporting the bill. “(The bond) takes incremental, important steps toward equity that will do a lot of good.”

    The bill includes some help for smaller and low-income districts, such as providing extra money to hire project managers and expanding the number of districts that qualify for hardship funds. It also sets aside 10% of the money for small districts.

    The California School Boards Association is also supporting the bill, along with a companion bill, AB 2831, sponsored by Assemblymember Josh Hoover, a Republican from Folsom, that would provide more relief for small and low-income districts if the school bond passes in November. 

    “We’re more than sympathetic to the needs of small districts,” said association spokesperson Troy Flint. “But times are tight, and we feel it’s crucial to get a school bond on the ballot. … It’s not what we need, but it’s what we could get. Now we have to focus on getting it passed, for the health and safety of California students.”

    Old heaters, outdated kitchens, no AC

    Trinity County Superintendent Fabio Robles said that some of the schools in his county are so dilapidated that any money is welcome. Passing local bonds is almost impossible, he said, because the county is so poor. So schools are almost totally reliant on the state for repairs.

    In Lewiston, the gym has no air conditioning and the kitchen dates from the 1950s, Robles said. At Van Duzen Elementary, a small K-8 school in the mountains, the heater is 40 years old. 

    “Would a 5-90% sliding scale have been better? Yes. But what’s being proposed now will be a big help to us,” Robles said. “I’ll take that any day of the week.”

    In Lynwood, Superintendent Crosthwaite said he’s tired of low-income students having to put up with broken air conditioners and leaky roofs while their more affluent peers enjoy state-of-the-art facilities. His district, for example, is going to ask voters this fall to approve a bond for $80 million. Across town, Pasadena Unified is moving forward with a $900 million school facilities bond. If the state offers matching grants, Pasadena will get even more money.

    Meanwhile, students in Lynwood Unified lack basic facilities, he said. A middle school only has a blacktop, no green space. An elementary school lacks hot water. The district doesn’t have enough performance spaces or science labs. 

    “Our kids think this is normal. It should not be ‘normal,’” Crosthwaite said. “In California we call ourselves progressive, but we need to take a hard look at how we allocate our resources.”

    This story was originally published at Calmatters.org.


    Get stories like these delivered straight to your inbox. Sign up for The 74 Newsletter





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    BOJ Rate Hike: Government Bonds for Beginners|Mike Kobayashi

    September 24, 2026

    HKEX Derivatives Clearing Houses to Accept China Government Bonds, Policy Bank Bonds and MOF Bonds as Non-Cash Collateral from November 2026

    September 24, 2026

    Oil price rise creates more pressure on UK policymakers before budget | Economics

    September 24, 2026
    Leave A Reply Cancel Reply

    Top Posts

    XRP ETFs Attract $38 Million in Just Two Days, but Price Struggles Continue

    September 25, 2026

    BOJ Rate Hike: Government Bonds for Beginners|Mike Kobayashi

    September 24, 2026

    US crypto ETFs draw over $3 billion this week, with nearly $800 million flowing beyond Bitcoin

    September 25, 2026

    Bitcoin ETFs have erased a $5.8 billion hole

    September 25, 2026
    Don't Miss
    Mutual Funds

    Mutual fund tax rules: How SIPs, switches and losses affect capital gains | Personal Finance

    September 25, 2026

    Mutual fund investing is often described as simple: invest through a SIP, stay invested and…

    What makes SBI Mutual Fund schemes worth investing in?

    September 25, 2026

    US crypto ETFs draw over $3 billion this week, with nearly $800 million flowing beyond Bitcoin

    September 25, 2026

    6 international mutual funds are reopening: 5 delivered double-digit returns in 1 year – is it time to invest?

    September 25, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Singapore Retail Scion’s Mansion Price Slashed by $5 Million – BNN Bloomberg

    October 18, 2024

    Rising investor confidence fuels new manufacturing investments

    July 15, 2025

    Positive inflows into gold ETFs continues for eighth week in a row

    September 14, 2026
    Our Picks

    Mutual fund tax rules: How SIPs, switches and losses affect capital gains | Personal Finance

    September 25, 2026

    What makes SBI Mutual Fund schemes worth investing in?

    September 25, 2026

    US crypto ETFs draw over $3 billion this week, with nearly $800 million flowing beyond Bitcoin

    September 25, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.