D.C. Defaults

Somewhat ironically, after my post yesterday about the academic success in the DC school system, it seems that their financials are a particular mess.

The District missed a $103 million payment due to its 60 charter schools this morning, triggering serious cash flow problems for many of the publicly funded, independently operated schools and raising new questions about D.C. government’s ability to meet its commitments as revenue declines. The delay means that some schools will not be able to meet their payroll.

The sheer irresponsibility and irony of a district, unable to manage own its finances, that in turn stiffs the very organizations to whom it has granted financial autonomy is breathtaking.  That these same charters, who have managed their financial autonomy well enough to remain solvent, will now be unable to pay their teachers — while teachers within the dysfunctional district system are unaffected seems particularly delicious.

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