The deadline has come and gone for Buena Vista district schools to show they can still be financially viable.
Both B.V. schools and Inkster schools had until 5 p.m. Monday to secure new loans to finance operations -- or face being dissolved by state officials.
The Buena Vista School District superintendent Deborah Hunter-Harvill told TV5's Liz Gelardi that she exhausted all of her options to secure a loan, but to no avail. This means the district is almost certain to dissolve.
"We have called a couple of banks, some entrepreneurs, some [philanthropists], because we don't want to say it's over until 5 p.m.," said Hunter-Harvill.
The next steps are to figure out where to send the school district's students and how to begin paying off the district's $3.7 million deficit.
B.V. district officials still need to formally dissolve the school district, which they plan to do during a meeting next week. They will also redraw district boundaries so school children will know where they'll be going to school in the fall.
Meanwhile, the Saginaw Intermediate School District have scheduled a community forum for Wednesday, July 24 from 6 p.m. until 8 p.m. at B.V. High School for parents and students to talk about future educational programs for students previously served by the B.V. school district.
It's not just Buena Vista schools on the verge of being dissolved. Inkster schools near Detroit also missed Monday's deadline to file a financial plan.
The treasury says it will move forward with plans to close both districts.
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Wednesday, August 27 2014 2:48 AM EDT2014-08-27 06:48:05 GMT
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