The Akron Public School system will be spending more than they bring in if they don’t make budget cuts before July 2024, according to its Chief Financial Officer.
The revelation was made at a retreat held by the Board of Education Saturday, and given by CFO Steve Thompson.
Thompson told the BOE that the school system would need to cut $15 million and pass a levy to achieve optimal financial stability, a school official confirmed. There is no current plan for how to make the cuts, but the BOE is aware of the suggestion, school officials confirmed.School officials confirmed that the school district is expected to spend more than it makes starting next year if the cuts are not made.Sources confirmed that 80% of the budget is spend on staff and health care.
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