NC county school district’s multi-million dollar debt paid off by local foundations, organizers say

FORSYTH COUNTY, N.C. (WGHP) — All the money Winston-Salem/Forsyth County Schools owed the North Carolina Department of Public Instruction has been paid.

$3.4 million has reportedly been paid in full.

In support of WS/FCS, local foundations, community leaders and businesses made financial commitments to the WS/FCS Futures Fund

established by The Winston-Salem Foundation to reduce the district’s debt.

The payoff was pushed forward by $500,000 from the WSF, $400,000 from the Twin City Development Foundation and $250,000 from the Z. Smith Reynolds Foundation.

Due to the Forsyth County Commission’s commitment to reduce the debt owed to them as well, the total amount owed to them will go down per their matching plan based on ongoing donations.

The district cut 344 jobs in lieu of the debt, sparking student protests at the beginning of the school year.

LaTida Smith, president of The WSF, said her organization worked quickly to ensure the money raised was used to erase the district’s $3.4 million debt to the NCDPI.

“This is an important first step in returning our focus back to building a bright and vibrant future for public education in Forsyth County,” Smith said.

The WS/FCS Futures Fund is one of four funds under the All In For Our Schools campaign, which also includes the Education Foundation Classroom Supplies Fund, WS/FCS Student Success Fund and the Every Shelf, Every Student book drive.