Will School District Bankruptcy Lead to “the Next Education Revolution”?
On September 23, 2015, I wrote a post about the Hillsborough County (Florida) Public Schools and some of its fiscal issues, one of which involves former superintendent MaryEllen Elia’s spending over half of the district’s financial reserves without school board knowledge or approval. The result is a drop in district reserves that threatens its bond rating, which could result in higher interest rates for the district when it borrows money.
The Hillsborough district has also had to tap into its fund balance in order to meet payroll at the end of the 2014-15 school year.
In short, Hillsborough schools’ finances are showing signs of instability.
It seems that this is what Rebecca Sibilia, CEO of charter school facilities financing nonprofit, EdBuild, is looking for in a traditional school district. After all, shaky finances might get shakier, which might lead a district down the dark path of bankruptcy.
Sibilia views bankruptcy of traditional school districts as “a huge opportunity” that could usher in “the next education revolution.” In other words, Sibilia wants to seize Will School District Bankruptcy Lead to “the Next Education Revolution”? | deutsch29:
