CMSD finance chief warns of multi‑year shortfalls; board to vote on forecast Oct. 14

Chief Financial Officer Kevin Stockdale told the Cleveland Municipal School District Board of Education on Sept. 23 that the district faces continuing multi‑year budget shortfalls unless it maintains and expands cost‑cutting measures. Stockdale said changes enacted this year in the state operating budget (House Bill 96) altered the forecasting timeline and shortened the required forecast window; the district is presenting a four‑year forecast this fall and will vote on it at the Oct. 14 work session to meet the state’s Oct. 15 deadline. Stockdale said the district’s revenue shortfalls stem from two main sources: lower property tax collection rates for tax year 2024 and a pause in implementation of the state’s Fair School Funding Plan, which left Cleveland schools about $16 million a year below earlier expectations. “Last year we saw actual collections…