With funds from city, Philadelphia schools will open as scheduled next month

Aug. 16, 2013
City of Philadelphia agrees to borrow $50 million to support financial rescue plan for school district

Philadelphia School District officials say classes will resume Sept. 9 as scheduled, now that the city has vowed to come up with the $50 million the district needs. The Philadelphia Inquirer reports that Mayor Michael Nutter ordered the city's finance department to borrow the $50 million. A state rescue plan approved in June called for the city to borrow $50 million against future collections of its extra 1 percent sales tax, but city officials disagreed over how much of that revenue should go to schools and how much to pensions. Superintendent William R. Hite had said he would not begin the 2013-14 school year unless the city provided the $50 million.

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