$355,000 in Stock Surprises School District
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From Times Staff and Wire Reports
The city’s cash-strapped school district has just discovered that it has owned $355,000 in stock shares for the past three years without knowing it.
“It was an oversight,” trustee Lynn Rodriguez said.
“I don’t know what the value of it would have been had we cashed in on it three years ago, but now it’s a windfall that will help us during our budget deficit.”
The district is facing millions of dollars in budget cuts this year and the money will come in handy, but it’s only enough to save a program or two from the chopping block.
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