When a corporation mismanages finances, employees and stockholders often suffer. When a school district’s funds are mismanaged or stolen, the potential negative consequences include:
- Unsafe schools. Some of the schools that have suffered deadly mass shootings have been later criticized for not using security funding that had already been provided, says Jonathan Butcher, senior fellow at the Goldwater Institute and author of “The School District Fraud Formula.”
- Teacher strikes. Teachers across the country are going on strike for better pay. But in many districts, stronger financial oversight and management could make significant teacher raises feasible.
- Wasted resources. Many districts continue to maintain unused or underused facilities. Unused buildings and other resources could be sold to put more money toward instruction, but that rarely happens, says Butcher.
Main story: Fortify your school against financial risk