Detroit Public Schools’ road to financial health will involve splitting the district into two, a shift in the way millage revenue is used and a hefty investment by the state.
Here's a breakdown of how it would work:
The current situation: DPS is projected to have an accumulated operating debt of $515 million by June 30. The district is in dire straits and is expected to run out of money by April 8 and be unable to pay its staff. A plan is winding its way through the Legislature to give DPS $50 million in immediate emergency aid.
The district's long-term outstanding liabilities amount to $3.4 billion, according to a Michigan Department of Treasury report. That includes the $515 million.