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MEMBERS OF THE BOARD LOS ANGELES UNIFIED SCHOOL DISTRICT STEVEN ZIMM MONICA GARCIA DR. GEORGE J. MCKENNA IL Administrative Office 333 South Beaudry Avenue, 24% Floor Los Angeles, California 90017 PRESIDENT MONICA RATLIFF ‘Telephone: " (213) 241-7000 DR. REF RODRIGUEZ, Fax (213) 241-8442 SCOTT M. SCHMERELSON DR. RICHARD A. VLADOVIC RAMON C. CORTINES SUPERINTENDENT OF SCHOOLS November 3, 2015 Members, Board of Education: ‘Together we have worked successfully as a team. We have improved academic opportunities, but we have “miles to go before we sleep.” As we were developing the budget last spring, I said that we need to place this District on a path of long- term financial stability. As such, I have asked our Chief Financial Officer, Ms. Reilly, to convene an independent panel of leading experts in California education, finance and public policy. Attached to this letter please find their “Report of the Independent Financial Review Panel.” This report comes at an important time and is intended to provide a framework to address the substantial, future challenges we face together as a District. I hope it will give the Board and the new Superintendent an objective view of the District’ I position and provide a basis for District discussion in the upcoming years. If I were the new incoming superintendent, this is exactly the type of report I would want to see. Members of this panel will be presenting an overview of this report at the November 10 board meeting, Thank you for your continued support and leadership. Sincerely,