Charter schools pose financial risk to municipalities by James Mulholland - Wait What?:
Charter schools pose financial risk to municipalities by James Mulholland
The charter school industry is proposing a change to Connecticut’s school funding system to require that local communities hand over local funds to subsidize charter schools attended by local students. The “money follows the child” funding system leaves local public schools without the resources necessary to ensure children have access to a comprehensive education. In this piece, first published in the CT Mirror, educator and education advocate James Mulholland examines this latest money grab by the charter schools.
Mulholland writes;
In December of last year, the Connecticut Department of Education issued a request for proposals for new charter schools – the first time in nearly three years. As the state grapples with a budget disaster and Gov. Dannel Malloy continues to propose changes that would dramatically change the way Connecticut pays for education, the state should refrain from opening any new charter schools and freeze the funding of existing ones.
Moody’s credit rating service has warned of the fiscal risks to municipalities posed by charter schools. In its 2013 report, Charter Schools Pose Growing Risk for Urban Public Schools, Moody’s concluded that a rise in charter school enrollment, “is likely to create negative credit pressure on school districts in economically weak urban areas.”
According to Michael D’Arcy, one of two authors of the report, “A small but growing number of traditional public districts face financial stress due to the movement of students to charters.”
As urban areas such as Hartford teeter on the brink of bankruptcy, lowered bond ratings could have a devastating effect on already dire budgetary circumstances. Gov. Malloy is proposing a new municipal accountability system for cities
Charter schools pose financial risk to municipalities by James Mulholland - Wait What?:
