Denver’s school board will hire an independent financial adviser to help board members analyze any future restructuring of the district’s pension debt.
The board’s finance and audit committee made the decision during a meeting Tuesday, but there must be further discussion about who that person will be, said board treasurer Mary Seawell.
District Superintendent Tom Boasberg said the hiring of an independent financial adviser to help with complex legal or financial decisions is not unusual and was part of the process when the district refinanced its pension debt in 2008. The board approved of that deal with a 7-0 vote.
Denver Public Schools is looking at possibly retooling the $750 million pension debt “if it were advantageous to us,” Boasberg said.
The district must find a new liquidity provider because the current agreement it has with a unit of Brussels-based Dexia SA expires in April.
