The Vallejo City Unified School District announced it has paid the final installment of a $60 million state loan it received two decades ago, marking an important milestone in the district’s financial recovery.
“This is a monumental moment for the Vallejo City Unified School District,” VCUSD Superintendent Rubén Aurelio said in a Friday news release. “The repayment of this loan is a testament to the dedication of our staff, the resilience of our community and the collective effort that has brought us to this point. We are excited to share this success with you and talk about the promising future of our district.”
In 2004, the State of California loaned VCUSD $60 million to address severe financial problems, resulting in the district losing its administrative authority to a state-appointed administrator.
In 2018, the Solano County Office of Education assumed oversight of the state loan under new law (AB 1840). Repaying the loan is a step for VCUSD to assume local autonomy over its business practices. The district will continue to work with SCOE in the areas of business services and human resources to strengthen its systems.
“There is still a lot of work ahead of us,” said Aurelio. “Although repaying the loan is an important step, we need to continue to improve our systems and processes to ensure long-term financial stability.”
A press conference celebrating the invention is scheduled for Sept. 5 and will include remarks by State Superintendent of Schools Tony Thurmond, Solano County Superintendent of Schools Lisette Estrella-Henderson, VCUSD School Board Chair Latyna Young and Aurelio. It will also include an overview of the district’s financial recovery. The press conference will be held from 1 to 3 p.m. that day at the Vallejo City Unified School District administrative offices, 665 Walnut Ave. in Vallejo.
“This repayment marks the beginning of a new chapter for VCUSD,” Young said. “Our road to financial recovery has been long and difficult, but it has strengthened our resolve and commitment to our students and community. We are now able to focus even more on providing the best education possible for our students.”
