AKRON, Ohio-Akron Public Schools faces financial challenges, with a projected deficit of over $27 million over the next five years. Declining enrollment and rising operating expenses contribute to this shortfall. To address this, the district plans to seek approval for approximately $15 million in spending cuts and a combined tax levy for the November 5 ballot.
The proposed levy includes a 7.6-mill operating levy and a 1.3-mill bond issue to fund a new $85 million North High School building. If passed, the levy would cost homeowners $311.50 per year for every $100,000 in home valuation. The district aims to share the burden with the community while ensuring school solvency and meeting student needs. The board will vote on the Financial Recovery Plan on May 13, with discussions on the cuts, levy, and bond issue during the Finance Committee meeting.
https://www.cleveland.com/akron/2024/05/akron-public-schools-mulls-15m-in-budget-cuts-tax-levy.html
