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Detroit school district deficit drops to $84 million
Nov 21, 2011 1:45 PM
From The Detroit News: The Detroit school district has slashed its deficit from $327 million to a projected $84 million and has generated its first operating surplus since 2007, Emergency Manager Roy Roberts says. In receivership and under state control, the district operated in the black during the past school year by reducing spending by $98 million — mostly through a 10 percent drop in enrollment. The deficit was reduced to a projected $83.9 million, primarily through a $244.9 million bond sale completed last month.
