Auditor General DePasquale Says School Districts, IUs Have Borrowed More than $346 Million Because of State Budget Impasse

In an announcement recently released, Auditor General Eugene DePasquale said that through September, the prolonged state budget impasse has forced at least 17 school districts and two intermediate units to borrow more than $346 million to meet expenses and keep classrooms open. Interest and fees on those borrowed education dollars could reach $11.2 million.
Another 28 school districts expected to borrow in October as an‘imperfect storm' approaches. Read the full news release here.