Gov. Rick Snyder has agreed with a review team’s finding last week that a financial emergency exists in the Pontiac School District. His declaration will set in motion a process that could end with drastic options that include bankruptcy or an emergency manager.
The district has a nearly $38 million deficit.
Snyder said in a press release this afternoon that the focus of today’s declaration is on making sure Pontiac students get the education they need to be prepared for college and careers.
“We need to look out for the children, and we want to make sure that Pontiac School District has the financial resources to open its doors next month,” Snyder said. “I look forward to working with school district leaders on setting a course that restores financial stability in the district.”