Title
Authorizing City Council's Committee on Fiscal Stability and Intergovernmental Cooperation to hold hearings to examine the potential benefits of establishing a fiscal oversight entity for the School District of Philadelphia.
Body
WHEREAS, The School District of Philadelphia continues to face a financial and educational crisis of extraordinary dimensions. In its FY2015 Budget Presentation, the District requested $440 million in new, recurring revenues, and stated that $216 million of that amount was needed merely to maintain the status quo; and
WHEREAS, Each year, the City Council of Philadelphia is required to authorize the School District to levy Real Estate and Use & Occupancy taxes, which those who live, work, or own property in Philadelphia are obligated to pay. Those taxes alone are estimated to yield $817,368,000 in FY15; and
WHEREAS, The City Council has repeatedly heard and responded to the pleas from the School District for more funding by judiciously increasing tax rates for four consecutive years. At the same time, these increases have added to the burden on Philadelphia taxpayers; and
WHEREAS, the Commonwealth of Pennsylvania is a partner with the City in providing funding for the operations of the School District of Philadelphia. The Governor's proposed Operating Budget for FY15 includes $1,379,149,000 in State appropriations for the School District of Philadelphia. In addition, Council has been focused on securing appropriate additional resources for the School District, including authorization to enact a cigarette tax, restoration of charter school reimbursements, and implementation of a fair funding formula for all school districts in the Commonwealth; and
WHEREAS, There is a continuing and critical need to ensure that the finances of the School District are efficiently and effectively managed, not only for the sake of the children whose futures are at stake, but also in order to demonstrate to those who fund the School ...
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