LANCASTER — Two years after veering dangerously close to bankruptcy, the Antelope Valley Union High School District has declared itself solvent and able to operate without an outside fiscal overseer.
At a meeting Wednesday night, school board members celebrated by tearing up sheets of paper representing the district's major debts.
"We went through two very bad years of trying to get this budget balanced, and we came very close to a state takeover," board President Billy Pricer said Thursday. "We've recovered in record time.
"We'll no longer have to have a fiscal adviser from the county, but the county is still going to watch us very closely."
The district, which has about 12,500 students and operates six schools, was placed under special supervision in 1992 after administrators determined that the district was deeply in debt. Ultimately, the shortfall was estimated at about $12 million, and the district had to obtain an $8-million loan from the county to continue operating.