DETROIT – The Detroit Public Schools Community District has regained control of its finances. The Detroit Financial Review Commission (FRC) voted unanimously on Monday to immediately grant a waiver that releases both Detroit Public Schools (DPS) and Detroit Public Schools Community District (DPSCD) from active state oversight. READ: Detroit Public Schools Community District expected to be released from state oversightThe elected DPSCD School Board and its appointed superintendent manage the district along with DPS, which solely functions to manage the district’s legacy debt. “This is a monumental day for the state of Michigan,” said State Treasurer Rachael Eubanks, chairperson of the Detroit FRC. “Our largest school district has shown leadership in having three consecutive balanced budgets with minimal oversight of day-to-day operations.