WAYNE COUNTY - School Bond Loan Fund

[Shadowninja]

DEAREST READER...

We opened Michigan Treasury's School Bond Loan Fund ledger.

Now we're in WAYNE COUNTY. 👓📜

And one number rather dominates the page.

According to Michigan Treasury's 2025 Appendix C, eight Wayne County school districts show outstanding balances in the state's school bond loan program.

Combined:
💰 $463,498,740.51

But here is the number that stopped my spectacles:

DETROIT PUBLIC SCHOOLS
$417,445,765.42
STATUS: BORROWING

That is roughly 90% of the ENTIRE Wayne County total.

One district.

$417.4 MILLION.

And Treasury currently classifies Detroit as BORROWING, meaning it has not yet moved into the repayment phase of this state loan program.

The other Wayne County balances range from just under $1 million in Trenton to $17.4 million in Ecorse, with some districts borrowing and others repaying.

And once again, participation in this program does NOT, by itself, mean a district has done anything improper.

But $417.4 million is not a footnote.

Neither is a countywide total approaching HALF A BILLION DOLLARS.

Which brings us right back to the question behind this entire series:

WHEN TAXPAYERS ARE ASKED TO AUTHORIZE NEW BOND DEBT, SHOULDN'T EXISTING OBLIGATIONS TO THE STATE ALSO BE PART OF THE CONVERSATION?

I'm not telling voters what answer they should reach.

I'm simply making sure they know there is another ledger worth reading.

And Wayne County's ledger certainly had something to say. 👓🧾

SOURCE: Michigan Department of Treasury

2025 School Bond Qualification and Loan Program — Appendix C

With receipts and respect. 👑

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