Rainy Day Funds Running Dry For Local Schools 3-25-2011 - WNEM TV 5

Rainy Day Funds Running Dry For Local Schools 3-25-2011

According to recent reports, more than 150 school districts in Michigan are teetering on the edge of going broke.
It’s a situation that is drawing attention under Gov. Rick Snyder’s proposed cuts of $470 per pupil in an effort to balance the state’s budget.
According to the Detroit Free Press, several local districts have almost exhausted their rainy day funds.
They include Saginaw City Schools with $266,642 in its fund for 8,698 enrolled students, Bay City Schools with $248,799 for its 8,985 students and Flint City Schools with $1,132,410 to cover its 12,569 students.
In contrast, school districts like Frankenmuth have $4,837,670 set aside for just 1,244 students. Midland Public Schools have $12,218,993 for 8,713 students.
Some Wayne County schools are running deficits, with Detroit City Schools, Hamtramck Public Schools and the School District of Inkster showing negative funds.
School leaders have been testifying in Lansing, writing lawmakers and sending letters to parents about the situation. They say that after years of closing schools, laying off staff and slashing programs, there's little left to cut.
To check out the full list of rainy day funds available to your school district, follow this link.
To read the Detroit Free Press's original article, click here.
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