DETROIT (WWJ/AP) – State records show Detroit Public Schools is $53 million behind in pension payments, costing the cash-strapped district $7,600 a day in interest penalties.
Based on its minimal payments, the district would be $81 million behind in mandatory pension contributions by July 1, according to the Detroit News. That cost is further exacerbated by $78,000 in fees for each month the district remains delinquent.READ MORE: AG Nessel Urges FDA To Enforce Regulation Of Over-The-Counter Hearing Aids
The sporadic pension payments date back to October 2010. The district has a projected deficit of roughly $166 million this year — $40.6 million more than originally expected.READ MORE: Michigan Matters: Where are the Female CEOs in Michigan?
State-appointed emergency manager Darnell Earley says he expects revenue to continue to decline next year and enrollment to decline.
The governor’s office is expected to soon get recommendations for changes in the district from the Coalition for the Future of Detroit Schoolchildren.MORE NEWS: ‘He Sang The National Anthem At Our Graduations,' Sheriff Washington Remembers Wayne County Corporal Who Died From COVID-19
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