Columbus schools paints bleak financial future

COLUMBUS, Ohio (WCMH) -- The Columbus City Schools Board of Education had a special meeting on Wednesday to talk about the district’s updated five-year financial forecast following approval of Ohio’s two-year budget.

District treasurer Ryan Cook spoke candidly during the meeting, saying as of this year, with the latest budget and inflation, the district is spending more than it’s bringing in, meaning budget cuts will be necessary.

“If we continue at our present rate of spending, by fiscal year (20)’29, we would have an actual cash deficit of $54.4 million. We can’t place ourselves in that position,” Cook said.

If cuts are not made, Cook said Columbus City Schools’ cash balances could deplete quickly over the next few years.

Board president Michael Cole said the district is in a difficult position.

“You guys heard us say that we've been doing what is called deficit spending -- that means that we're not bringing in enough revenue,” Cole said. “But our costs to operate are actually regularly increasing.”

Cole said the latest state budget puts more of the burden to fund public education on taxpayers, while the state’s contribution decreases. With less money coming from the state and with continued inflation, Cole said Columbus needs to cut around $50 million in the next few years to avoid going in the red for fiscal year 2029.

“The realities of the impact of that on children and on our employees, it's a tough decision to make,” Cole said. “It's a tough decision to have to actually deliberate with our colleagues on.”

The district is now focused on taking a hard look at spending to see where the $50 million in cuts will come from. Staff positions and district programs are at risk.

Superintendent Dr. Angela Chapman said it’s a frustrating situation.

“While the resources have decreased, the needs of our students continue to increase,” Chapman said.

Now, recommendations for the budget cuts will go to the full Columbus Board of Education for members to discuss. The next board meeting is Aug. 19, but decisions will be weighed over a period of time.

“Moving forward, we're definitely going to have to consider, in months ahead, what to take action upon,” Cole said.