CORRYVILLE, Ohio (WKRC) – Cincinnati Public Schools leaders presented the district’s financial forecast this week, while also painting a grim picture of deficits the district could face if changes are not made.
CPS Treasurer Michael Gustin and his team shared a presentation on Monday, showing that the worst-case scenario includes a $101 million cash budget deficit by 2030 if no changes are made. School board members now have time to make adjustments to avoid it, but it is not yet clear how it will impact students, staff, or the taxpayers.
The forecast factors in recent changes to Ohio’s property tax laws. Those changes took the district off the “20-mill floor,” which previously gave the district a revenue boost when property was reappraised.
“You can see from basically 26 on, you know, our property tax revenues stay incredibly flat,” Gustin said…