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Sweetwater Union HS District hires law firm to deal with SEC inquiry

Posted at 11:19 PM, Jan 28, 2019
and last updated 2019-01-29 02:19:33-05

CHULA VISTA, Calif. (KGTV) -- The Sweetwater Union High School District school board unanimously approved an agenda item to hire a law firm to handle any district issues related to the U.S. Securities and Exchange Commission (SEC). The SEC is a federal agency that investigates financial fraud.

The SEC ordered the school board to hold any documents dating back to January 2015 to the present day, according to The Voice of San Diego.

At Monday night's school board meeting, district officials said the SEC only requested they hold onto the documents and hasn't asked them to turn anything over. Officials said they reason for the law firm was to be prepared to respond if the SEC does ask for any documents.

Sweetwater Union has been under the microscope since they self-reported a $30-million dollar budget shortfall. In December, 300 teachers accepted early retirement to help balance the budget.

Parents spoke out about the SEC agenda item during public comment questioning whether or not the district knew about their financial troubles as they were happening. The law firm would cost the district at least $895 per hour for any SEC related work.

10News asked the district for a comment at the school board meeting and a spokesperson told us "no comment".