Millions In Debt, Bridgeport Public Schools Turns To Reserves: Report

BRIDGEPORT, CT — Bridgeport Public Schools, facing a budget shortfall in the millions, will tap into its reserves to close the gap, the Connecticut Post reported.

The school system reportedly needs to close a deficit of about $13 million, and after using funds from its reserves, that account will only be left with the state minimum requirement of $4.5 million.

By tapping into such a large amount, the district is running the risk of large budget cuts next school year, the publication warned.

Read the Connecticut Post story.