Time and money running out for CVUSD within next couple years

In a surprising Coachella Valley Unified School District Meeting on Thursday, the Riverside Board of Education revealed the stark financial reality the district is facing.

“You will have a deficit and possibly run out of cash in 2025-2026," said Dr. Scott Price from Riverside County Office of Education.

“Last night was a big shock to hear that they’re are going to be $77 million dollars in the hole in a couple of years," said Carissa Carerra, President of the Coachella Valley Teachers Association.

Carerra listened into the Thursday's meeting, as Dr. Price revealed the district's financial situation.

“We will be sending a formal letter soon indicating what we call a lack of going concern," Dr. Price explained.

Meaning the district is at risk, if a viable financial stabilization plan and necessary budget cuts aren't produced.

“You might run out of cash," Dr. Price said.

"Naturally I’m trying to sugar coat this, but they are legitimately saying, hey we’re running out of money and layoffs need to happen? 

“I’m not willing to say it’s legitimate," Carerra responded.

"But I’m willing to say that’s what was said at the meeting last night.” 

SCHOOL BOARD MEMBERS WERE UNIFORM IN ADDRESSING THEIR SERIOUS OF DR PRICES ASSESTMENT. 

School Board Members were uniform in addressing the seriousness of Dr. Price's Assestment.

“We’re not going to agree on the best positions, but that does not excuse us from making those cuts," a board member explained to Dr. Price.

Despite that, employees of the school district have to wonder, what's next?

“This is a big task but I know we can make it happen," another board member explained.

We put in multiple calls to the school district superintendents office today, but did not hear back.

We will keep you updated on this story online and on-air at News Channel 3.