How does Beaverton’s situation compare to that of the Gwinn School District?
The Department of Treasury advises that Gwinn’s model is not applicable to Beaverton. Gwinn is IN deficit; Beaverton is NOT in deficit.
The Department of Treasury separates schools into three different categories when working with them:
Category 1 – Pre-Deficit or Treasury’s Early Warning (Beaverton is here);
MDE Deficit Schools – Schools projected to be in deficit less than 5 years. Required to submit Deficit Elimination Plan (DEP).
Category 2 – Treasury Deficit districts (project to be in deficit greater than 5 years or “rapidly deteriorating”)
Required to submit Enhanced Deficit Elimination Plan (EDEP). (Gwinn is here due to rapidly deteriorating financial circumstances)
Category 3 – Financial Emergencies (Emergency Managers, Consent Agreements, Bankruptcy, etc.)