Detroit School District Shoring Up its Finances

Matthew Dolan:

After more than two years under state control, Detroit's public school district appears to be getting its basic finances in order by privatizing services, cutting wages, restructuring debt and aggressively seeking out students to fill its classrooms.

The district's operating deficit stands at $83 million, down from $327 million at the start of the year, according to documents released by the district Monday. The progress under the district's new state-appointed emergency financial manager could offer a roadmap for the city of Detroit, which is running out of cash and may itself fall into state hands.

Posted by Jim Zellmer at November 24, 2011 1:22 AM
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