Denver Public Schools leased schools through shell corporation, hiding almost $1B in off-book financing
By Nicole C. Brambila | Denver Gazette
Denver Public Schools transferred ownership of at least 31 schools to a shell corporation, then leased them back for hundreds of millions of dollars
Denver Public Schools has quietly taken on hundreds of millions of dollars in long-term debt without voter approval — money that could otherwise be used to lower class sizes, increase teacher pay or expand student support services, an investigation by The Denver Gazette has found.
The spending comes as contract negotiations between the district and the Denver Classroom Teachers Association (DCTA) have stalled, with union leaders pointing to the district's failure to fully fund last year’s cost-of-living adjustment.
Educators have repeatedly called for smaller class sizes, better compensation a...