The junk-rated Chicago Board of Education completed an up-sized bond sale on Thursday with a pricing that indicated an easing in the municipal market penalty the district has been forced to pay due to its deep financial problems.
Although the School Reform Commission (SRC) resolution to disband states that the district is no longer in distress, the district is projected to face a $1 billion deficit over the next five years. Mayor Kenney pledged earlier this month that he would cover a large chunk of the deficit.
More school districts are turning to deficit spending and long-term borrowing to meet operational costs, according to a new Illinois State Board of Education report.
State policy plays a critical role in determining whether and how well local education improvement strategies can be implemented. As states rework their education policies under ESSA, state and local leaders need a way to assess their current policy environment and identify the changes needed to encourage local innovation and problem-solving. Read the overview, open up the self-assessment tool, then dig into the state policy reviews and recommendations in four key areas: systems, schools, famil
The Taxpayers Guide to Education Spending 2017 shows the myriad ways which school district numbers can be divided, with several categories of per pupil costs, including one labeled “actual per pupil costs.” But trying to compare district to district can be a daunting affair, even if the state does try to eliminate some variables, such as transportation costs, the amount of pension costs for local teachers paid by the district or even judgments against the school district. Click here for an interactive map of district per-pupil spending from NJ Spotlight.
The school district began displaying decals on five of its buses that promote a program called “A Hope and a Future,” started by the Booneville Rotary Club to raise money for scholarships for Booneville students… The decals were paid for by area businesses, which get their logo printed on the decals, and 75 percent of the net proceeds go to the school district to help repair and maintain its 18-bus fleet.
The disparity in school funding is especially noticeable here in eastern North Carolina as most rural counties farther inland fall well below the state average for spending per student. However, coastal areas benefit from a tourism driven economy and high property values, so spending per student increases markedly.
Over the next few years, they must absorb much higher pension payments and likely cuts in the federal budget, while relying on state funding that, though still rising, isn’t keeping pace with increasing costs.
The district hopes to keep good teachers by allowing them to reach that salary maximum faster than they could in surrounding districts using more traditional pay scales. The proposal also allows for bonuses for teachers with advanced degrees and those who work in hard-to-staff subjects like math, science, and special education.
Here’s a math problem even the brightest school districts struggle to solve: getting hordes of elementary, middle and high school students onto buses and to school on time every day. In such problems, improving operational efficiency even a little could result in great advantages.