Philadelphia School District 'Lump Sum' Budget Getting OK'd Despite Funding Holes
By Mike DeNardo
PHILADELPHIA (CBS) -- The School Reform Commission late this afternoon was set to approve the School District of Philadelphia's "lump sum" budget for the next fiscal year, which aims beyond simply filling an $85-million deficit.
Right now, the district's $2.9-billion preliminary budget for next year is short, according to CFO Matt Stanski.
"With no enhancements from the city or the state, we're looking at a shortfall of about 84.7 million dollars," Stanski told KYW Newsradio.
But he says the school district, in its lump sum statement, is banking on $105 million in new city money and $159 million more from the state to move beyond the status quo.
"Our target is not to balance the budget, though," he noted. "Our target is to get $264 million in new, recurring revenues. Because we desperately need it."
Stanski warned that should the district get all it is asking for this year, look for a jump in the following year's per-pupil charter school costs -- because those are always based on the previous year's public school funding.