DPS Debt Comes to $3.5 Billion
New report urges state officials to make fixing Detroit schools a top priority.
The Detroit Public School district is $3.5 billion in debt. The Citizens Research Council of Michigan says that figure should convince the governor and the Legislature to make solving the district’s financial problem a top priority. The Council says unfunded retiree benefits and short-term borrowing account for almost $2 billion of the district’s debt. Senior Research Associate Craig Thiel tells WDET’s Pat Batcheller DPS also owes about $1.7 billion for capital improvement loans and bonds.
Detroit Schools Legacy Costs Indebtedness 2016
