The latest news about the School District of Philadelphia’s finances isn’t good. Our bond rating, as a district, is now one step above junk bond. Given the $73 million deficit this year and the projected deficit for next year, this does scare me, as SLA — and every other school in Philly — needs the district to be on sound financial footing if we are to reach the promise of our best ideas.

But there’s a larger issue at work here, and I’m thrilled to see our CEO Paul Vallas bring it up:

"After five years of reform, we’ve gone about as far as we can go with
our existing revenue base. In order to go to the next level, we’re
going to need more. It’s as simple as that," said Paul Vallas, district
chief executive officer.

He’s right. Sooner or later, this is an economic justice issue. The district made $70 million in cuts this year. They cut 180 jobs — and in conversations I’ve had with people at the central and regional offices, many of these cuts have hurt us. If we really are staring down a $100 million shortfall next year, I have no idea where the cuts would come from, except out of our already underfunded schools.

Philadelphia deserves fair funding. As I’ve written before, Philadelphia lags far behind other PA districts. We’re $4,000 per student under the average and $11,000 — which doubles what we spend — under the wealthiest district. Just to put that in perspective, that means that next year, when we have 250 students, that’s an extra $1,000,000 that we could spend. That’s an AP, a full-time nurse, eight more teachers, and another $170,000 for equipment, supplies, extra-curriculars… (for example.) Just look at the ratio for guidance counselors. In Philadelphia, it’s one per 600 students, in a wealthy district just outside the city, it’s one per 225. Ask yourself how much of a difference that makes.

I am scared to death about this looming deficit, but I am heartened to see Mr. Vallas and others at the upper levels of administration saying that these deficits are not caused by mis-management, but rather because there simply is not enough money in the system.