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DPSCD reports $1.2 billion in revenue after first budget amendment; legacy debt, cash position highlighted
Summary
District finance staff told the board that fiscal 2025 revenue is tracking about $1.2 billion after Budget Amendment 1 added roughly $42 million; legacy Detroit Public Schools debt and restricted funding limits were emphasized and the district reported roughly 15 weeks of cash on hand.
Detroit Public Schools Community District finance staff told the board that fiscal 2025 revenue is tracking at about $1.2 billion after the district adopted a first budget amendment that added roughly $42 million in projected revenue.
The presentation said the legacy district that still exists for debt collection holds about $5 million of operating emergency loan debt to be repaid this year, roughly $350 million in school loan revolving fund debt and about $1.3 billion in outstanding capital bond debt.…
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