The Detroit Free Press reported that the Pontiac School District is two years ahead of schedule in reducing its self-created overspending crisis, which had ballooned to $51.7 million in 2012-13. Pontiac brokered an unprecedented 10-year plan with the Michigan Department of Education to wipe out its overspending. The Free Press reported the overspending is currently at $39.1 million.
ForTheRecord says: The Pontiac School District has been outspending revenues since 2008-09. The current $39.1 million overspending crisis is the second highest of the last seven consecutive years. If Pontiac is able to reverse its overspending in 10 years, it would have been in red ink for 15 consecutive years.
Michigan Capitol Confidential is the news source produced by the Mackinac Center for Public Policy. Michigan Capitol Confidential reports with a free-market news perspective.
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