IOWA CITY, Iowa (KCRG) – The Iowa City Community School District board voted Tuesday night to pause its Facilities Master Plan, transfer funds to keep an account solvent and make a plan to ask the state for permission to increase its spending authority.
The decisions came four months after a financial crisis became public within the district.
Iowa City Schools are facing financial pressures on numerous fronts. The district has borrowed money from internal accounts and the interest on those loans are climbing. The district lost its bond rating for not having up-to-date audits for years…