DPS teachers push board to take action on bad financial deal

April 24, 2015

Denver teachers on Thursday demanded the district’s school board take steps to get millions in taxpayer dollars back lost to banks in complex financial swaps.

"It is time for the school board to stop kicking the can down the road," Patrick McHenry, with the Denver Classroom Teachers Association, told the board. "We urge DPS to do the right thing. Work with Denver taxpayers get our money back!"

He said taxpayers have paid $300 million in interest and fees since 2008. Organizers say other cities have been successful in legal battles to get money back from banks.

Teachers are also upset that when the financial deals went sour, DPS's contributions to pensions decreased drastically. After last night’s public comments on the matter, the school board had no comment.