Cincinnati Public Schools is in a precautionary financial state, according to the Ohio Department of Education and Workforce (ODEW). The district says it received two letters from the state on Sept. 2 indicating a low fund balance and a projected deficit in the coming years.
In one letter, ODEW says that without new revenue, CPS is projected to have a $44.5 million budget deficit by the 2029 fiscal year. The district must submit a Board of Education-approved financial recovery plan to the department by Nov. 30 that, if implemented, would eliminate the projected deficit.
CPS has a new five-year, 7-mill property tax levy on the upcoming November ballot. If voters approve it, the levy would generate an estimated $64.7 million for the school district annually…