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Parents Accuse DPS of Sidestepping TABOR Limits and Violating Colorado Organized Crime Control Act
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The Denver Gazette, Approved, Local

Parents Accuse DPS of Sidestepping TABOR Limits and Violating Colorado Organized Crime Control Act

By Nicole C. Brambila | The Denver Gazette The parent advocacy group that previously accused Denver Public Schools of financial misconduct in court documents has escalated its claims, alleging the district engaged in racketeering through its bond and lease-financing structures. Mamás de DPS filed a complaint in Denver District Court on Tuesday, accusing district officials of violating the Colorado Organized Crime Control Act. The lawsuit also names the Denver School Facilities Leasing Corp. and Wells Fargo Bank as defendants. The lawsuit alleged that district officials violated the statute by creating a “shell corporation” and “unlawfully mortgaging” DPS buildings “for the purpose of permitting a bank trustee (here, Wells Fargo) to use public monies to generate investm...
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Audit Raises Questions Over DPS Debt Practices As Taxpayers Foot the Bill
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The Denver Gazette, Approved, Local

Audit Raises Questions Over DPS Debt Practices As Taxpayers Foot the Bill

By Nico Brambila | The Denver Gazette Denver Public Schools is operating with a negative net position — owing more in long-term obligations than it holds in assets — a rare and troubling financial posture for a major Colorado school district, according to an audit. Presented on Thursday, the audit for fiscal year 2024–25, which ended June 30, showed the district is carrying $4.07 billion in long-term liabilities. (For context, the district budget last fiscal year was about $1.5 billion.) Total assets remained lower, even after the district added nearly $1 billion in unspent 2024 bond proceeds to its books — cash voters approved a year ago that had not yet been put to use. As those bond dollars are spent, the cash asset will disappear, while the long-term debt remains,...
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Denver Schools say lease-financing is lawful, critics say it skirts voter oversight
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Approved, denvergazette.com, Local

Denver Schools say lease-financing is lawful, critics say it skirts voter oversight

By Nicole C. Brambila | Denver Gazette In a motion to dismiss filed Friday in response to a lawsuit, Denver Public Schools (DPS) defended its use of lease-purchase agreements — a financing method critics say sidesteps required voter approval for public debt that could leave students without access to their schools if the district defaults. “This allegedly unlawful ‘scheme’ is actually a common and completely legal method of financing projects for public entities in a manner that is authorized by statute and has been repeatedly ratified by Colorado courts,” DPS officials said in their filing. As previously reported by The Denver Gazette, DPS has quietly taken on hundreds of millions of dollars in long-term debt through a controversial financing tactic that sidesteps the state’s con...
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Denver Public Schools leased schools through shell corporation, hiding almost $1B in off-book financing
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Approved, denvergazette.com, Local

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...
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