Dear IUSD parent,

With California's tax revenues continuing to plummet, the Golden State now faces an unprecedented shortfall of more than $40 billion over the next 18 months. Legislative leaders are being urged to take swift action to staunch the bleeding of red ink, even as they simultaneously develop a spending plan for 2009-10.

So what does this mean for the Irvine Unified School District?

California's credit rating is so poor that it can no longer borrow money, and that means a combination of tax hikes and midyear cuts to schools and other public agencies are all but inevitable. Despite our district's conservative approach, recent projections indicate IUSD will need to make approximately $10 million in ongoing reductions this year.