What Happens if City Schools Go Insolvent - voiceofsandiego.org: Data-drive

What Happens if City Schools Go Insolvent - voiceofsandiego.org: Data-drive:

What Happens if City Schools Go Insolvent

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  Photo by Sam Hodgson

  The San Diego Unified School Board

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Posted: Sunday, October 16, 2011 11:30 am |Updated: 6:44 pm, Mon Oct 17, 2011.

• By Keegan Kyle

Last week, top officials said the San Diego Unified School District is on the brink of financial collapse and may require a state takeover to remain afloat.

So what does that mean?

A takeover would push the state to loan the district millions of dollars to pay for its bills. Declaring insolvency would spur radical changes in the district's operations.

In exchange for the loan, the law requires local officials to hand over control of the district to the state. Ironically, it would either fire or relegate the top two officials that are sounding the district alarm, Superintendent