Financial managers in the city have floated the idea, but hope to convince state lawmakers to help restructure the city's budgetary issues to keep its schools open.
"[Emergency Financial Manager Robert] Bobb has said school closures, bigger classes and other measures would be needed if he cannot get help from lawmakers to restructure finances in the state's largest school district.
DPS considered but declined to file for bankruptcy in 2009. In the past year, debt in the district has increased by more than $100 million, brought on by a mix of revenue declines in property taxes, reduced state aid, declining enrollment and an unplanned staffing surge this past fall."
