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Detroit Public Schools photo
We're showered with stories, both nationally and locally, about Detroit's comeback. But here's a sobering reminder that all is not well:
Detroit's public school system poses a potential threat to Detroit's economic revitalization without help from the state, Moody’s Investors Service said Tuesday. Jennifer Chambers of The Detroit News writes:
The rating agency said for fiscal 2019, the Detroit Public Schools Community District has budgeted $9 million in capital expenses, out of a budget of roughly $760 million. Detroit's school buildings have $500 million in capital needs and deferred maintenance.
The Moody's report projected the figure could top $1.5 billion by 2023 if unaddressed.
“The district cannot finance capital improvements on its own and the City of Detroit has its own challenges, placing the burden on the State of Michigan to potentially step in again,” said Andrew Van Dyck Dobos, an analyst at Moody’s. “Absent state support, or sizable philanthropic donations, the deteriorating school facilities will obstruct the City of Detroit's post-bankruptcy economic revitalization.”
The state controlled the school district for nearly a decade under state-imposed emergency management and provided big dollars to help keep the district afloat under Gov. Rick Snyder.
