Performance And Pensions In Denver Schools
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Performance and Pensions in Denver Schools
Overview
When considering Denver, Colorado, many envision its majestic, snow-capped peaks. Similarly, the goals of the Denver Schools district are lofty yet achievable. The district focuses on three main objectives:
1. Set high expectations for all students
2. Raise overall achievement levels
3. Close the achievement gap
Strategies for Success
To accomplish these goals, six key strategies are emphasized:
- Enhancing literacy and math skills
- Offering more after-school support
- Strengthening middle and high schools
- Improving professional development for educators
- Increasing parental involvement
A Respected Educational System
The Denver Schools system is widely renowned as one of the top urban school districts in the nation, tracing its origins back to 1859. Officially founded as a district in 1902, it currently comprises 73 elementary schools, 15 K-8 schools, 17 middle schools, 14 high schools, 19 charter schools, and more, serving 73,399 students as of October 1, 2006.
The student demographics are diverse: 57% Hispanic, 20% White, 18% Black, 3% Asian, and 1% American Indian. Of these, 20% are English Language Learners, and there are significant numbers of Spanish speakers and students speaking one of 86 other languages. Denver Schools also offers a broad range of foreign language classes, including Arabic, Chinese, and Russian, among others.
The district employs 4,555 teachers, with an average salary of $47,829, and boasts a graduation rate of 76.9% with a dropout rate of 4.6%.
Addressing Pension Challenges
Beyond performance, Denver Schools face challenges with their pension plan. Superintendent Michael Bennet has proposed a controversial plan to cut pension contributions temporarily. He suggests paying 5.5% annual interest to J.P. Morgan for a loan of $375 million, redirecting approximately $11 million into classrooms instead.
While the district claims a commitment to pension funding, the pension board is concerned. They fear potential shortfalls if the fund doesn’t achieve an 8.5% return annually, which includes the district's withheld contributions. Additionally, the proposed arrangement would have the pension fund borrow against its $2.8 billion in assets, raising concerns about financial sustainability.
The debate intensifies as Denver Schools also consider school closures to manage shrinking budgets. Over the past four years, the district has already reduced its budget by $83.5 million.
In conclusion, Denver Schools are navigating both ambitious educational goals and complex financial challenges, seeking innovative solutions to enhance student achievement while addressing fiscal responsibilities.
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