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Akron board approves 5-year forecast and $30 million bond issuance resolution as treasurer warns of deficits
Summary
Facing projected multi-year deficits and the risk of state receivership, Akron Public Schools’ board unanimously approved the district’s five-year forecast and a bond issuance resolution to fund North High work. The treasurer warned the board the district could face fiscal watch or emergency if structural changes are not made.
The Akron Public Schools board on May 27 approved the district’s five-year forecast and a resolution authorizing the issuance of bond anticipation notes tied to the voter-approved construction program.
Treasurer staff presented the forecast and an analysis of district revenues and expenditures, noting personnel costs make up roughly 81% of the general fund. The treasurer summarized the forecast’s main risks: continued enrollment declines, rising construction costs and the potential for deficits that…
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