Financial Crisis Now Striking Home for School Districts
Project Delays, Worries About Cash Flow Result of Tight Credit Markets
The crisis besetting U.S. and world financial markets is hitting school districts hard, as they struggle to float the bonds needed for capital projects, borrow money to ensure cash flow, and get access to investment funds locked up in troubled institutions.
• In Cumberland County, N.C., school officials froze plans to build a $20 million elementary school in the 53,000-student district after a neighboring county failed to find buyers for $454 million of its own construction bonds.
• The state of Maine has delayed 12 major school construction projects totaling $348 million in 11 school districts. In other states, even districts able to borrow money are paying higher interest rates while bracing for yet another...
This article is available to subscribers only.
To keep reading this article and more, subscribe now or purchase this article.
Subscribe to Education Week and Save
Get a full year and save up to 45%!
Viewed
Emailed
Recommended
Commented
- Elementary School Teacher
- Success Academy Charter Schools, New York, NY
- K-8 Principal
- EdVantages/Performance Academies, Detroit, MI
- Principals
- Prince George's County Public Schools, MD
- Superintendent
- Pinellas County Schools, Pinellas County, FL
- 2 Positions -Associate Superintendent and Chief Academic Officer, and Director of Human of Resources
- Washington County Public Schools, Hagerstown, MD


