The $2.89 billion lump sum budget proposed for the 2016 fiscal year still relies heavily on state and city funds that are still pending.
If approved, Holyoke would become the second district in Massachusetts to be run by the state. The education commissioner, who recommended the takeover, said he felt a real sense of "urgency" to act now.
David Meckley, who was appointed receiver on Dec. 26, resigned this month. Meckley wanted to turn all of the schools into charters, a move opposed by new Gov. Tom Wolf.
The seven districts allege that the state is not complying with the basic education formula and that discrepancies have shifted the financial burden to local school districts and schools.
Ms. McKenzie led the district from 1981 to 1988 and was one of the longest serving superintendents in the city's history.
The decreases come as teachers and students report feeling safer in the city's schools, according to the University of Chicago Consortium on Chicago School Research.
Jurors must decide if 12 former district employees were part of a vast criminal conspiracy, committed lesser felonies, or were merely pawns in a scheme masterminded by their former bosses and supervisors.
Valeria Silva has worked in the district since 1987 and served as superintendent since 2009.
The school board in Texas' sixth largest school district has "some issues they need to work through before resuming the search," a school spokesman said.
The report also shows that most urban charter and district schools are serving equal numbers of English language learners as well as students in poverty and special education.