Tag Archives: Finance
District deficit $22 million less than projected due to cooperative cost containment efforts and continued enrollment stabilization Recent restructuring efforts are having a positive impact on Detroit Public Schools finances according to results of a recently filed audit of the 2014-15 fiscal year, though the district still faces dramatic financial challenges. DPS had projected an annual deficit in the range of $70 million, but the audit filed with the State of Michigan on Nov. 2, 2015, shows an actual deficit of $46.5 million, a reduction of about $22 million. The district still faces a significant legacy liability of approximately $515 million. “Detroit students need the best education possible, and significant financial challenges make it more difficult to meet academic goals,”
DPS Emergency Manager Announces Restructuring of District Central Office Operations Centered on Raising Student Achievement and Supporting Schools
New, more streamlined structure projected to save $10 million when fully implemented Detroit Public Schools Emergency Manager Darnell Earley today announced the restructuring of the district’s central office operations, creating a streamlined system that is “laser-focused” on supporting schools to strengthen and improve student achievement. The restructuring is a part of Earley’s 10-Point Management Plan which has been guiding the district’s transformation into a more efficient and effective educational service provider since it was released earlier this year. “Since day one, I have been saying that in order for DPS to not only survive, but thrive, it could no longer operate like a school district from 50 or even 20 years ago,” said Earley. “DPS must completely restructure the way
Detroit Public Schools will hold a public hearing on its proposed budget for the 2012-2013 school year at Renaissance High School, 6565 W. Outer Drive, Detroit, MI 48235, beginning at 5:00 p.m. on Wednesday, June 27, 2012. Copies of the proposed budget will be available for public inspection at the Office of Management & Budget located in the Fisher Building, 11th Floor, 3011 W. Grand Blvd., Detroit, MI 48202, from 8:00 a.m. until 5:00 p.m., and the District’s web-site on Wednesday, June 20, 2012 through Wednesday, June 27, 2012. The property tax millage rate proposed to be levied to support the proposed budget will be a subject of this hearing.
NEW DPS FINANCE TEAM APPOINTMENTS INCLUDE CHIEF FINANCIAL OFFICER, AUDITOR GENERAL AND INSPECTOR GENERAL
Detroit, MI – Robert C. Bobb, Emergency Financial Manager, Detroit Public Schools, today introduced the new members of the DPS Finance Team. Bobb announced the appointments of Ricardo A. Kisner, CPA as Chief Financial Officer, John E. Bell, Jr. as Inspector General, and Odell W. Bailey as Auditor General. Bobb noted the more than 93 years of collective experience that the three bring to their positions, and the community and Detroit ties they possess. “Moving forward, Detroit parents, staff, and community members and leaders should be assured that today we have significantly strengthened our abilities to establish and maintain financial credibility, employ internal controls, assess risk, maintain compliance, and investigate improper or illegal practices,” Bobb commented. Kisner most recently served