LOS ANGELES: ‘ SEC OPENS ENQUIRY INTO USE OF BOND FUNDS IN IPAD PROJECT ‘

#AceNewsReport – USA:April.17: The U.S. Securities and Exchange Commission has opened an informal inquiry into whether Los Angeles school officials complied with legal guidelines in the use of bond funds for the now-abandoned $1.3-billion iPads-for-all project.

In particular, the agency was concerned with whether the L.A. Unified School District properly disclosed to investors and others how the bonds would be used, according to documents provided to The Times.

District officials said they were optimistic that they had addressed the SEC concerns.

$1.3-billion iPads-for-all program in Los Angeles schools was plagued by lack of resources and inadequate planning for how the devices would be used in classrooms and, later, how they would be evaluated, according to a federal review.

The U.S. Education Department study found similar problems with a faulty student records system that launched at the beginning of the school year.

The troubled technology projects were a factor in the departure of L.A. schools Supt. John Deasy, who resigned under pressure in October. And they were largely responsible for the resignation, under threat of dismissal, of Ronald Chandler, former head of technology for the L.A. Unified School District.

The review was provided by the Education Department at the request of current Supt. Ramon C. Cortines Times reported.

It offered a rare independent interpretation of events that have provoked controversy for more than a year.

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