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DPSCD finance committee hears year-end report; district reports levy collections, $2.5M November debt payment
Summary
The Detroit Public Schools Community District finance committee received a year-end report showing collections on recently approved levies, a $2.5 million supplemental debt payment in November and approximately 21 weeks of cash on hand; officials warned federal reimbursement changes could affect food-service projections.
Unidentified Speaker 4, presenting the finance report to the Detroit Public Schools Community District finance committee, said the district collected about $1.1 million on the 13‑mill levy and about $1.2 million on an 18‑mill levy and used extra summer collections to make a $2.5 million supplemental debt payment in November.
"After this $2,500,000 payment," the presenter said, "we still have approximately $5,000,000 remaining." The presenter also said the levy rollback approved in…
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