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Finance director: state aid boosts district revenue, but federal cuts could pose future risks
Summary
DPSCD finance staff reported stronger-than-expected state revenue and summer property mill collections but warned that potential federal Title I–IV cuts in future budget cycles could require multi-year contingency planning.
The Detroit Public Schools Community District’s finance director told the board Oct. 14 that the district finished August with sufficient cash to meet bond obligations and expects an uptick in state aid this fiscal year — but that potential federal cuts could require strategic use of reserves.
Jeremy Vedito (finance director) said the district received summer collections tied to property mills, "$47,000,000 on our 13 mills capital debt and then $39,000,000 on our operating…
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