Philadelphia School District Facing Deficit Of Up To $500 Million

The Philadelphia Daily News (12/22) reported, "With the loss of power of some of their biggest supporters in Harrisburg and the end of the cushion of federal stimulus money, the School District of Philadelphia is staring down a huge budget hole. District officials said last night that next fiscal year's shortfall will be $234 million, all from the loss of stimulus dollars, but district sources with knowledge of the budget have placed the gap at more than $400 million." According to the Daily News, "A worst-case scenario has it reaching above $500 million, sources say."