Cleveland Metropolitan School District facing $143.3 million deficit, CEO says
· 14.02.2024 · 06:25:06 ··· ··· Wednesday ·· 3 (3)
WKYC Channel 3 Cleveland Metropolitan Schools CEO Dr. Warren Morgan is outlining the district’s plan to address a $143 million budget shortfall that is expected to take effect by the end of the 2024-25 school year.
"If we're not doing anything with the deficit, if we're not closing the gap in the deficit, of course we're not going to be able to make the ending year balance positive," Morgan said to a group of local reporters ahead of his presentation to the School Board Tuesday night.
After accounting for the district’s $125.1 million cash balance at the end of this school year, the district would see a negative balance of $18.3 million at the conclusion of the 2024-2025 academic year if nothing were to be done, according to Morgan. The budget problems are hitting now due to federal COVID relief funds ending this school year.
"Some of these financial challenges the district would have saw a lot sooner if the COVID relief dollars didn't come," Morgan added.
Per Morgan, who began his new role at the beginning of this school year, the federal dollars have funded $465 million in district expenditures since 2020.
"There were some challenges that were already taking place and were already looming," he shared, "and COVID [funds] allowed us to do some things and maintain some programming."
But with that funding drying up, Morgan presented Phase 1 of the his plan to address the deficit. Lydia Esparra reports.
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