DPS may need payday loans
Detroit Public Schools expects to be millions of dollars short on payrolls through most of the remaining school year, documents obtained by the Free Press show.
he district’s shortfall is projected at $21.6 million on the March 17 pay date, $16.1 million on April 14, $17.4 million on May 12 and $21.3 million on June 9, according to reports the district files with the state under a consent agreement.
In addition, the district has at least $42 million in overdue bills as of Jan. 29 — double the arrears reported in November. The shortage includes $9.2 million in retirement payments to the Michigan Public School Employees Retirement System. (more…)
