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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 November will begin adding revenue when winter tax collections arrive in January.
The report said overall the district is roughly in line with revenues and expenditures, helped by additional state one‑time funds, while some federal reimbursements arrived after the November close due to timing. The presenter noted that final expenditure reports for a federal program (SFTP) were submitted in December and funds arrived December 3, after the November close, which will be reflected in January financials.
On the expense side, the presenter told the committee that salary and benefit totals ran slightly lower in the November report because some union agreements had not been adopted by the close of the month and retroactive pay would be processed in December under Budget Amendment 1. "Once the new financials start reflecting in January, that'll reflect those changes," the presenter said.
The district reported about 21 weeks of cash on hand and a planned transfer in December to the facility master plan. The food service fund showed a roughly $40,000 revenue increase over expectations and expenses below forecast; the presenter warned that federal policy changes, such as a potential elimination or change to the community eligible option, could alter the fund's outlook.
Board members had no further questions and the presenter closed the report. The committee scheduled follow‑up items and directed that Budget Amendment 1 changes appear in January financial statements.
