Detroit Schools Lose Out On $6.5 Million After Missing Important Deadline

DETROIT (WWJ) - A financial official at Detroit Public Schools has resigned after the district missed an important deadline that will cost $6.5 million.

Deputy Executive Director Michael Bridges submitted his resignation this week after it was discovered that paperwork was never submitted to receive the state funds, according to a report in the Detroit Free Press.

Detroit Public Schools Community District Superintendent Nickolai Vitti says former CFO Marios Demetriou should have completed the forms when they were received in the spring. Demetriou says he ordered other officials to take care of it by the Aug. 15 deadline, but it's not clear what happened after that.

Vitti says the lost funds were supposed to be used to pay down the district's long-term legacy debt and not for day-to-day student operations. He's promising disciplinary action against anyone involved.

The district has nearly $2 billion in debt.