Philly Schools Facing $320 Million Deficit

English: South Philadelphia High School, taken...

English: South Philadelphia High School, taken from Broad Street, with snow in the foreground (Photo credit: Wikipedia)

FOR THE SECOND straight year, the Philadelphia School District is staring at a more than $300 million shortfall for the fiscal year beginning July 1.

That’s according to a lump-sum budget adopted last night by the School Reform Commission, which lays out broad projections of revenue and expenses. The forecast anticipates $2.8 billion in expenses, with $2.5 billion in revenues, leaving a deficit of $320 million.

“Based on our current financial picture, we are still left without adequate funding to provide even the most basic services for our students,” SRC chairman Bill Green said. “We are again in a position to ask for additional funding.”

Read more at http://www.philly.com/philly/education/20140328_Philly_schools_facing__320_million_deficit.html#P7Hcx2qtfSuo52VT.99

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More Than 3,700 Philadelphia School Employees Are Being Laid Off

English: South Philadelphia High School, taken...

English: South Philadelphia High School, taken from Broad Street, with snow in the foreground (Photo credit: Wikipedia)

Philadelphia Superintendent William R. Hite Jr. announced Friday that the School District had begun mailing layoff notices to 3,783 employees, informing them they will lose their jobs July 1 because of the district’s financial crisis.

The list includes 676 teachers, 283 counselors, 127 assistant principals, and 1,202 noontime aides.

“These … employees are more than numbers: these are people — professionals — who play important roles in the lives of thousands of students throughout our city,” Hite said at a news briefing.

He called the layoffs “nothing less than catastrophic for our schools and students.

Read more at http://www.philly.com/philly/education/20130608_Phila_sends_layoff_notices_to_assistant_principals.html#QamVcubfvjJ7k5Of.99

DeMedici II Will Buy Former GlaxoSmithKline Building For New String Theory School

Map of Pennsylvania highlighting Philadelphia ...

Map of Pennsylvania highlighting Philadelphia County (Photo credit: Wikipedia)

A new performing arts charter high school says it has sealed a deal to open in the fall at GlaxoSmithKline‘s former North American headquarters at 16th and Vine Streets.

Under terms that will be announced Thursday, a nonprofit associated with the Philadelphia Performing Arts Charter School has agreed to buy the curving, eight-story building for $29 million for the String Theory High School for the Arts and Sciences.  It will be the first charter high school in the city focused on the performing arts.

The nonprofit, DeMedici Corporation II, expects to finance the property with tax-exempt bonds from the Philadelphia Authority for Industrial Development (PAID), according to Mary D’Anella, spokeswoman for String Theory Schools, which manages the charter.

“It’s the most exciting high school this city has opened in a generation,” said Angela Corosanite, chief executive officer of the nonprofit String Theory, and founder of it and the Philadelphia Performing Arts Charter School.

Read more:  http://www.philly.com/philly/education/20130328_DeMedici_II_will_buy_former_GlaxoSmithKline_building_for_new_String_Theory_School.html