AKRON, Ohio-Akron Public Schools (APS) faces a financial crisis if a key levy (Issue 27) fails to pass. Without the levy, the district could face an annual deficit of $38 million as early as fiscal year 2025, depleting its cash reserves and leaving it with a $32 million shortfall by 2027. However, if Issue 27 passes, it would not eliminate the deficit but would provide enough revenue to keep the district from draining its reserves until 2028. At a board meeting on the eve of the levy vote, APS Treasurer Steve Thompson presented these two financial forecasts, stressing the urgent need for the levy to pass. State law requires the district to maintain a three-month reserve, about $90 million, but without additional revenue, APS may struggle to meet this requirement.
