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Los Angeles school district officials on Tuesday approved a $7.4-billion budget that was a mix of gains and losses for the nation’s second largest school system.

Employees across the district will get raises negotiated over the past year and class sizes will shrink slightly. But dozens of employees will lose jobs and nearly 200 others will face reduced pay or hours.

The general operating budget is a little smaller than last year, because enrollment continues to decline by about 14,000 students per year. About 453,000 students were enrolled this year. State funding per student has increased but administrative and instruction costs also are rising.

Overall, the district’s budget is in the black for this year and next, but L.A. schools Supt. Austin Beutner has warned that the school system is rapidly spending down reserves and faces serious problems three years out.

Read the full story on LATimes.com.

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