Shortfall in Philadelphia School District Lump Sum Budget
By Pat Loeb
PHILADELPHIA (CBS) — The Philadelphia School District finds itself back where it was at this time last year– short of revenue and facing a long, difficult process to get more funding. KYW’s Pat Loeb reports the School Reform Commission, Thursday, adopted a lump sum budget statement for next year with a $320 million dollar hole in it.
The statement projects $2.5 billion dollars in revenue, but $2.8 billion in expenses and contains a request for $320 million dollars in additional funding. CFO Matt Stanski explains how that new money would be used.
“The first hundred is to essentially maintain existing services. The next 54 is really there to inject additional resources directly into schools. The remainder is to really begin implementing transformational strategies in the district,” Stanski said.
This year’s projected deficit, meanwhile, has grown by $14 million dollars, in part, because the hard winter meant high utility and snow removal costs. Special education services are also over budget and, Stanski says, real estate tax revenue is almost $4 million less than expected.