Akron Public Schools, like many similarly situated urban school districts, has faced a cascade of significant challenges over the past few years. Due to the devastating impact the COVID pandemic had on student learning and funding constraints, now, more than in past financial planning years, we must examine our path forward with even greater intensity. Other factors to consider related to the current fiscal state of our District include, flat revenues, funding that does not keep up with inflation, implementation of significant cost of living adjustments for staff, and the lack of a levy since 2013. Under Ohio’s public school funding model, Akron Public Schools is unable to receive revenue increases from property tax dollars and can only receive revenue increases through levy approval. This creates an unsustainable funding model for Akron Public Schools.

 

The administration has taken an in-depth and realistic look into the District’s financial status and the Superintendent has indicated a willingness to make some difficult decisions to “right-size” through reorganization and restructuring with a focus on enhancing student educational outcomes. The District’s recent implementation of the “Blueprint for Excellence” is a strategic plan established to provide guidance on identifying the most important goals and chart the future course of the District.

 

The District’s Chief Financial Officer reported significant financial shortfalls in the recent version of the Five-Year Forecast. According to this report, due to increased expenditures and decreased revenues, the District is in jeopardy of deficit spending that if not controlled, will likely result in a declaration of “fiscal caution.” In collaboration with District leadership, the Department of Human Capital has identified several steps including centralization of services, accountability, and other workplace efficiencies in order to meet the fiscal reorganization and restructuring plan goals necessary to achieve and maintain a responsible fiscal status.