Thursday, November 15, 2012

Flint School District Debt

The Flint School District is officially facing a $4 million deficit. Sounds bad, but it's actually much worse than that. Blake Thorne of mlive reports that an audit recently revealed that the district is really $11 million in the red.
The budget for the Genesee Area Skill Center is, and has for years, concealed a larger deficit in the district's K-12 general fund, said several board members and Mike Frawley of Yeo & Yeo, the accounting firm which conducted the audit.

The GASC is a vocational program operated by the district but serving students throughout the county and operating as a separate school. 

However, Frawley said, the state considers the deficit to be $4 million and the GASC budget has been allowed to be included in the general fund for more than 30 years.

"We're lying to ourselves," said board member Vera Perry. "We have to stop lying to ourselves and face it head on."
Board member Isiah Oliver agreed, saying the district has to face the deeper structural problems of an $11 million shortfall.

"I'm bothered, not as much at the $11 million, but by the fact that I'm digging to get someone to say that's the reality," Oliver said. "If that's the case, let's just deal with it."

No comments:

Post a Comment

Thanks for commenting.