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 start a 2-week FREE trial.
Subscribe to Education Week
You Save 20% or More!
Access selected articles, e-newsletters and more!
Viewed
Emailed
Recommended
Commented
Sponsored Whitepapers
• Best Practices in Information Management, Reporting and Analytics for Education
• Smart infrastructure report to get your district ready for future IT needs.
• Integrating Social and Emotional RTI to Improve Student Performance
• Taming the wild west: How America’s third largest school district manages PCs, Macs, and iPads
• Overcoming the Odds: Getting Every Student to College YES Prep Shares Its Success Story
- Superintendent
- Round Rock ISD, Round Rock, TX
- Principal
- Chattahoochee Hills Charter School, Multiple Locations
- Principal
- The Berkeley Institute, HAMILTON, Bermuda
- Principal
- Amargosa Valley Elementary School, Amargosa Valley, NV
- Principal
- Christ the King Preparatory School, NJ