1. dailynews

Philadelphia official says school district deficit could climb to $400 million

March 9, 2012
Chief recovery officer lays out worst case budget scenario

From The Philadelphia Inquirer: A Philadelphia school district official has laid out a worst-case scenario for the system's budget next fiscal year—a shortfall approaching $400 million. Thomas E. Knudsen, the district's chief recovery officer, says the district's current estimate of the deficit is $248 million, but number could improve or worsen depending on new expenses and revenues.

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