DUAB

The state-appointed manager of the Gary Community School Corporation told state officials Monday the district faces less of a deficit than it did a year ago.

The annual operating deficit is  $15 million -- that’s $7 million less than the original deficit when state lawmakers approved the takeover. Eliminating the deficit by the end of 2019 remains the manager’s goal.

Yet the district remains in debt by $98 million, much of that coming from outstanding bonds and loans from banks and the state.

School Financial Indicator Committee Meets This Week

Jul 10, 2018

Under a bill passed earlier this year, the state plans to keep closer tabs on financially struggling schools. A committee meets this week, to discuss which financial risk factors the state might monitor as part of that plan.