Economics

Oakland School Board Demands Full Disclosure of Budget Shortfall

Published

9 years ago

January 20, 2017

Demanding budget transparency, the Oakland Board of Education voted this week to postpone making $14 million in cuts that staff was recommending for next school year, saying they wanted administrators to answer questions about how the district got into its current financial mess and to explain the real impact of vaguely worded cuts on departments, schools and services.

The Oakland Unified School District (OUSD) board voted 5-2 at a special budget meeting Wednesday night to postpone the decision to move ahead on the cuts.

All the board members said they recognized that cuts would have to be made in order to maintain the district’s solvency to avoid a repeat of the state takeover of 2003- 2009.

Outgoing Supt. Antwan Wilson was not at the meeting. Interim Supt. Devin Dillon sat in Wilson’s seat.

Voting against approving the resolution without further discussion and information were Boardmembers Jody London, Shanthi Gonzales, Roseann Torres, Nina Senn and Aimee Eng.

Those who voted to accept the staff recommended cuts immediately were Jumoke Hinton Hodge and Board President James Harris.

The postponed resolution called for staff to prepare $14 million in budget cuts in next year’s budget, including $8.5 million in poorly explained cuts from central office budgets.

According to the administration, the $14 million in reductions will pay for the impacts of a loss of enrollment of 1,000 students this year.

In addition, state revenue will be flat, though the district will have to pay for increased pension costs, rising utility bills and growth in costs of services.

At last week’s school board meeting, staff had recommended cuts at school sites, including the merging of a number of small schools that are physically located near each other.

However, by Wednesday night’s meeting, staff had canceled those recommendations.

By consensus, the board supported a proposal by Boardmember Eng telling staff to not come back with any school site cuts in next year’s budget.

The proposed merging or consolidation of schools was postponed until the 2018-2019 school year.

Eliminated were proposals to raise the bar on how many students would have to attend a school before it could qualify for an assistant principal or hire classified staff. Also eliminated was a proposal to eliminate some custodian positions.

In addition to the cuts next year, staff has already unilaterally ordered a soft freeze on the budget for this year, which means that schools and programs cannot use their unspent resources to hire additional staff, purchase materials or contract for services without central office approval.

The administration is hoping to save between $8.5 and $11 million this year to pay for Special Education cost overruns, increase the district’s financial reserves that have been depleted over the past few years and purchase new financial software to replace the inadequate system that is currently in place.

Over the next 18 months, administrators say the district must reduce expenses in the general fund expenses between $22.5 million and $25 million.

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Oakland Post: Week of March 18 – 24, 2026

The printed Weekly Edition of the Oakland Post: Week of March 18 – 24, 2026

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March 22, 2026

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Oakland Post: Week of March 11 -17, 2026

The printed Weekly Edition of the Oakland Post: Week of March 11 – 17, 2026

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March 17, 2026

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Advice

Women & Wealth: Tips for Navigating Your Lifelong Financial Journey

Published

3 weeks ago

March 15, 2026

Oakland Post

Sponsored by J.P. Morgan Wealth Management

We are in the midst of a seismic shift in wealth. This phenomenon, often referred to as the “Great Wealth Transfer,” describes the unprecedented movement of assets from the Baby Boomer generation to their heirs – an estimated $105 trillion by 2048. And women are poised to inherit most of this.

J.P. Morgan Wealth Management’s 2025 Investor Study found that women are not only set to receive significant wealth – they’re actively working to build it on their own. Ninety-three percent of women surveyed who are expecting an inheritance aren’t relying on it to reach their goals.

Here are a few tips for women to consider in their wealth-building journey:

Create a financial roadmap

A detailed, well thought out plan is important. J.P. Morgan’s study found that 90% of those surveyed with a plan feel confident about reaching their financial goals, compared to 49% without one.

Your plan should reflect your unique goals, priorities and circumstances. Consider your investment horizon and risk tolerance, and remember to revisit your plan regularly as life evolves.

Are you saving up for goals like buying a house, sending your kids off to college or retiring early? Where do you want to be in the next five, ten or twenty years? Everyone’s financial situation is unique, so it’s important to think about these questions and build a plan that is unique to your life.

Women tend to live longer than men on average. Many take career breaks or care for family members, which can influence long-term planning. It’s important to adjust your strategy with these factors in mind.

Where to start with investing

Don’t let misconceptions hold you back. Starting to invest doesn’t require a large sum, and beginning early can be beneficial. The earlier you start, the more time your money has to potentially grow over the years. Understand your overall financial situation, set clear goals and develop a long-term plan.

It’s important to also make sure you’re covered for unexpected expenses that come up before you start to invest. Build up a cash emergency fund, typically enough to cover three to six months of expenses, and pay down any high-interest debt.

Taking charge of your finances

The good news is that women are taking charge of their finances. J.P. Morgan’s research found that 75% of women respondents make financial decisions with their partner or take the lead themselves. For those who have a spouse or partner, it’s important for each person in the relationship to play an active role in the process.

Building wealth can be empowering for many women. The same survey found that 73% of women respondents said money gives them “security,” while 64% of Gen Z and Millennial women associated it with “freedom.”

The power of having a team

Some people find it helpful to work with a financial advisor, so you don’t have to tackle things alone. An advisor can help you craft a plan tailored to your needs and keep you on track throughout your lifelong financial journey. If you expect to receive an inheritance, you should also consult with estate planning and tax professionals.

No matter where you are on your wealth-building path, education is key. It’s so important to be an informed investor, and there are plenty of resources out there to help. You can find a library of free educational resources at chase.com/theknow.

As the landscape of wealth continues to evolve, women have a unique opportunity to shape their financial futures and those of generations to come. By staying informed and planning ahead, women have the tools to help them confidently navigate the Great Wealth Transfer and set themselves up for financial freedom.

The views, opinions, estimates and strategies expressed herein constitutes the author’s judgment based on current market conditions and are subject to change without notice, and may differ from those expressed by other areas of J.P. Morgan. This information in no way constitutes J.P. Morgan Research and should not be treated as such. You should carefully consider your needs and objectives before making any decisions. For additional guidance on how this information should be applied to your situation, you should consult your advisor.  

JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction.  