Knowledgeable Navigation to Avoid the Iceberg: Considerations in Proactively Addressing School District Fiscal Stress in MichiganDOWNLOAD
June 20, 2015 - Author: Rachel White, Kacy Martin, Eric Scorsone and Kristi Bowman
This white paper from MSU Extension outlines what a proactive, evidence-based financial health indicator system would look like and how it could prevent many school districts from reaching the crisis point. Fifty-seven Michigan school districts ended 2014 with a deficit or projected deficit, and many are in danger of entering a severe fiscal crisis.
Using research on what fiscal indicators best predict fiscal stress as well as information on what other states are doing to analyze the fiscal health of school districts, MSU graduate students Rachel White and Kacy Martin, MSU Extension economist Eric Scorsone and MSU law professor Kristi Bowman argue that Michigan should build fiscal scorecards for school districts using a number of readily available economic and environmental indicators.