11:22 PM / Wednesday December 6, 2023

22 Oct 2015

Philadelphia schools must borrow to make payroll

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October 22, 2015 Category: Local Posted by:

Associated Press

Philadelphia schools will have to borrow money to make payroll because of the state budget stalemate.

The Philadelphia Inquirer reports that the School Reform Commission will meet to authorize temporary borrowing in the coming days.

It’s not clear how much the district will need. It spends, on average, $10 million per day. Chief operating officer Fran Burns says it should not exceed $2 million.

Superintendent William Hite Jr. says he could not keep the schools open even with a loan if there is no state budget by the end of the calendar year.

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