Philadelphia Borrows $50 Million So Its Schools Can Open on Time

Superintendent William R. Hite Jr. said the $50 million was necessary to provide the minimum staffing needed for the basic safety of the district’s 136,000 students. In June, the district closed 24 schools and laid off 3,783 employees, including 127 assistant principals, 646 teachers and more than 1,200 aides, leaving no one even to answer phones. For a number of years, Mayor Michael A. Nutter and the City Council have been working, with some success and a fair amount of taxpayer pain, to shore up the city’s finances, which have been troubled by mounting debt, a shrinking tax base and unfunded pension and health care obligations to retirees.”

http://www.nytimes.com/2013/08/16/education/a-city-borrows-so-its-schools-open-on-time.html?_r=2&&pagewanted=all

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