More cuts could be coming for the Cleveland Metropolitan School District in the coming years, even after closing schools, laying off staff and taking other cost-cutting measures in recent years.
The district’s new financial forecast, approved by the school board Tuesday, shows it running out of cash entirely, about $50 million in the red, in just four years’ time. Chief Financial Officer Kevin Stockdale said rising costs of healthcare and state funding remaining flat are causing challenges for the district as it looks ahead. A recent enrollment study conducted by the state also suggests CMSD, like many public schools, will continue to see declining enrollment over the next 10 years.
Still, Stockdale said CMSD’s “Building Brighter Futures” consolidation plan has produced significant savings in its budget. That plan means CMSD is operating 29 fewer schools this fall, but also proceeding with significant layoffs. Those cuts reduced the district’s projected deficit spending this school year alone by about $60 million, Stockdale said…