The Vallejo City Unified School District says it has paid the final repayment of the $60 million state loan issued two decades ago, marking a major milestone in the district’s financial recovery.
“This is a monumental moment for Vallejo City Unified School District,” said VCUSD Superintendent Rubén Aurelio in a Friday news release. “Completing the repayment of this loan is a testament to our staff’s dedication, our community’s resilience, and the collaborative efforts that have guided us to this point. We are excited to share this achievement and discuss the promising future ahead for our district.”
In 2004, the State of California provided a $60 million loan to VCUSD to address severe fiscal challenges, resulting in the district losing its governance 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). Repayment of the loan is one step for VCUSD to assume local autonomy over its business practices. The district will continue to partner with SCOE in the areas of business services and human resources as they strengthen their systems.
“We still have work to do,” said Aurelio. “While paying off the loan is a significant step, we must continue improving our systems and processes to ensure long-term financial stability.”
A press conference to celebrate the invent is scheduled for Sept. 5 and will feature remarks from the State Superintendent of Public Instruction Tony Thurmond, Solano County Superintendent of Schools Lisette Estrella-Henderson, VCUSD Board of Education President Latyna Young, and Aurelio. It will also include an overview of the district’s financial recovery. The press conference will be held at the Vallejo City Unified School District Administrative Offices, 665 Walnut Ave. in Vallejo from 1 to 3 p.m. that day.
“This repayment marks the beginning of a new chapter for VCUSD,” Young said. “Our journey to financial recovery has been long and challenging, but it has strengthened our resolve and commitment to our students and community. We are now positioned to focus even more on providing the best possible education for our students.”
