SACRAMENTO—A new report shows that the number of California school districts in financial jeopardy has dropped sharply for the second year in a row, State Superintendent of Public Instruction Tom Torlakson announced today.

This year’s First Interim Status Report, FY 2013-14 shows that a total of 49 local educational agencies (LEAs) are either in negative or qualified financial status. This is down significantly from the last report—in May 2013—that showed 92 LEAs with this status, and is down even more significantly from the same report a year ago. In the First Interim Status report of 2013, there were 124 LEAs in financial jeopardy.

“Californians have put our schools back on the path toward economic recovery after several years and billions of dollars of cuts, and they are working hard to continue down that path,” Torlakson said. “Although our work won’t be done until every school is in solid financial shape, this is certainly movement in the right direction.”

via Drop in Districts in Financial Trouble – Year 2014 (CA Dept of Education).