A review team has declared Pontiac Public Schools to be in a financial emergency, the last step before an emergency manager could be appointed to take over the district.
......Pontiac Public Schools has a budget deficit of $37.7 million for fiscal year 2012, a 53.6 percent increase over the deficit for fiscal year 2011, the review team found.
Additionally, the district has $33 million in unpaid bills to vendors and defaulted on a $1.4 million bond payment in May.
The district is also facing a $7.8 million judgment against it for unpaid premiums to the Michigan Education Special Services Association, which provides health coverage for employees. That judgment was spread over a 10-year period
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