The Institute of Education Sciences and the National Center for Education Statistics have released... Read More
Philly City Controller Doubts School District’s Finances
As the city tries to make up for a $61 million deficit, Philadelphia’s City Controller has told officials that he doubts the district’s financial viability.
City Controller Alan Butkovitz still has doubts over the School District of Philadelphia’s financial viability, as it tries to battle with a projected deficit of at least $61 million while facing a funding gap of $269 million for the fiscal year 2012/2013.
Butkovitz wrote to Thomas E. Knudsen, the district’s new chief recovery officer, to voice his concerns, writes Martha Woodall at the Philadelphia Inquirer.
“To date, school district information we have obtained and analyzed provides substantial doubt among my professional audit staff, and strongly indicates a troubled organization.”
Butkovitz highlighted Feather Houstoun’s remarks at a recent commission meeting. Houstoun is head of the Philadelphia School Reform Commission’s finance committee, and she said:
Without intervention, “the school district was going to have such a pile-up of a cash deficit that we’re basically not going to be able to pay people in July for work they did in June.”
Butkovitz said that Houstoun’s comment “certainly suggests that even school district management has substantial doubt about the ability of the district to continue as a going concern.”
Butkovitz is there to include warnings and outline concerns in his role as the independent auditor of the district’s annual comprehensive financial report.
District spokesman Fernando Gallard said:
“We can fully assure that the school district is in no danger of failing to meet its debt service and payroll obligations in the foreseeable future as a result of the actions we have already implemented and intend to implement.”
Earlier in the year officials hired Knudsen to in an attempt to stem Pennsylvania’s financial crisis.
Knudsen will function both as superintendent and chief financial officer.
Knudsen said he shared the SRC’s “sense of urgency and alarm.”
While there’s less than six months left in the school year, Butkovitz has estimated that the district would have to cut $400,000 per day to erase the projected deficit of $61 million and try and cope with higher-than-expected charter school enrollment.
Minneapolis based consulting and research firm Adventium Labs has developed an educational iOS game... Read More
It seemed like less than a decade ago that the popularity of high school exit exams was at its... Read More
More groups are saying that the time and expense dedicated to standardized testing is having... Read More
Plan your career as an educator using our free online datacase of useful information.
- Select a City Subject
- Accounting Schools in Raleigh
- Human Services Schools in Auburn University
- Human Services Schools in Birmingham
- Human Services Schools in Fairfield
- Human Services Schools in Florence
- Human Services Schools in Huntsville
- Human Services Schools in Jacksonville
- Human Services Schools in Mobile
- Human Services Schools in Montevallo
- Human Services Schools in Montgomery
- Human Services Schools in Normal
- Human Services Schools in Talladega
- Human Services Schools in Troy
- Human Services Schools in Tuscaloosa
- Human Services Schools in Tuskegee