The Isaac School District’s financial troubles may be resolved through a deal with a neighboring school district.
Earlier this month, the state Board of Education put the Isaac district under receivership after it was discovered the district has a budget shortfall of more than $20 million.
Officials falsified financial records to show a positive cash balance and disguise serious debt.
Under a proposed deal, struck with the Tolleson Union High School District, Tolleson officials would purchase $25 million worth of Isaac school property, then lease the property back to Isaac.
According to a resolution outlining the deal, the cash infusion would allow Isaac District officials to meet payroll and other financial obligations.
Teachers at Isaac’s 12 schools have been working without pay since Tuesday.