Home > Uncategorized > More Bad News for Charter Advocates: Moody’s Analysis Indicates they Compromise City Bond Ratings

More Bad News for Charter Advocates: Moody’s Analysis Indicates they Compromise City Bond Ratings

November 6, 2016

In addition to the recent findings in MN where a judge threw out a lawsuit filed by charter advocate Campbell Brown because charter school’s that don’t provide tenure are disproportionately represented in the lowest scoring category of public schools in MN, we now learn from independent financial analysis by Moody’s that city’s bond ratings could be compromised should Question #2 pass in MA. The problem?

When districts lose students and money to charter schools, the agency said, they often find it difficult to adjust by cutting staff and closing underutilized school buildings because of union contracts.

Ah, but the advocates have a solution! They cite another independent analysis:

Samuel Tyler, president of the Boston Municipal Research Bureau, a fiscal watchdog, said passage of Question 2 could impose financial hardship on cities. But he said he expected passage would force Boston to close traditional public schools with empty seats and negotiate concessions from teachers. The state, he said, would also face pressure to step up and aid its capital city and economic engine.

“I would think that, between the city and the state, steps would be taken to mitigate the impact and not create a negative credit situation in the city,” he said.

So… the legislature would suddenly come to the rescue of urban areas after Question #2 drained resources from them and forced them to “…close traditional public schools with empty seats and negotiate concessions from teachers.” And “reformers” wonder why parents and teachers are concerned about the expansion of charters and say that their concerns about the adverse impact on neighborhood schools are overstated? Here’s a better idea: rather than waiting for a new crisis to befall not only the schools but the cities, why doesn’t the legislature pass a bill NOW to “…step up and aid its capital city and economic engine” by giving them the help they need TODAY?

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