From the PHILADELPHIA INQUIRER:
A survey of Pennsylvania school districts to be made public Tuesday shows many headed toward insolvency in the next few years, and to avoid it they are weighing cuts to music, art, physical education, and electives while increasing class size and raising taxes…
More than half said they anticipated being in financial distress — not being able to meet their obligations — within three years, if local and state revenues don’t increase. Three percent — more than a half-dozen — said they were already broke.
A large part of the financial crisis stems from school employee pension payments, which are expected to triple — from $1.2 billion to almost $4 billion — over the next four years, said Jay Himes, PASBO’s executive director. At the same time, federal, state, and local revenues will be “flat, at best,” he said…
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