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Wed July 3, 2013
Review Team Will Examine Pontiac School Finances
Governor Rick Snyder has taken the next step toward a possible state takeover of the Pontiac school district.
As The Michigan Public Radio Network’s Rick Pluta reports, the governor named a review team to take a closer look at the district’s finances.
The district is already relying on loans from the Oakland Intermediate School District to make payrolls, and has defaulted on employee insurance premiums. A judge has ordered the district to start making the payments.
The district’s deficit is pegged at somewhere around 38 million dollars. The Pontiac schools have suffered a steep decline in students.
If, as expected, the state review team determines there is a financial emergency, the district could negotiate a deficit-elimination agreement with the state, ask for an emergency manager to run the district, or seek permission to file for bankruptcy.
There are currently three Michigan school districts being run by emergency managers.