DETROIT (WWJ) – A debt refinancing plan is expected to help the Detroit Public School district to eliminate $200 million of its debt; improving cash flow, says Emergency Manager Roy Roberts.
“Prior to this transition we’ve been spending a $100 million a year on this debt,” said Roberts. “We’re going to continue to look at our operating performance and see how we can cut into that $127 million – I think we stated to you before that we put a budget together for 2012 that’s balanced … we’re going to continue to work to make sure that we don’t spend any more than we take in.”
It’s money the district couldn’t use– Roberts says– to pay teachers buy books or run district businesses. Enrollment meanwhile is improving.
“We’re looking to get some final counts on enrollment … I’m really encouraged by what I see, I’ll tell you that student attendance on Wednesday — the statewide count day was 64,424,” said Roberts.
He says the district has the potential to enroll more than 67,329 students.
Roberts also announced that William Aldridge has been named as the districts’ new chief financial manager.