CLEVELAND — At its regular meeting Tuesday night, the Cleveland Metropolitan School District Board of Education unanimously approved a resolution declaring its intentions to place a new school funding measure on the November ballot.
The announcement comes as CMSD seeks to stave off a projected budget deficit that would begin with the 2024-25 school year. According to a presentation by District CEO Dr. Warren Morgan, both a new tax levy as well as a bond issue would be combined into a single proposal for voters.
"We stand at a crossroads for funding the future of our children’s education," Morgan said in a statement following the vote. "Your support for this levy means a direct investment in not just their future, but the future of Cleveland. We've strategically contained costs to minimize the impact on our residents, making this a responsible and crucial step forward for CMSD."
Back in February, Warren told the School Board as well as City Council that CMSD was facing a roughly $143 million deficit by the next academic year, largely due to the loss of federal funds provided in the wake of the COVID-19 pandemic. Following the approval of a deficit reduction plan along with a new contract with the Cleveland Teachers Union, the superintendent now says that shortfall is projected to be just under $31 million, and the ballot measure would help make up the difference and prevent further cuts.
The 8.6-mill tax levy would last for 10 years, costing property owners in Cleveland an extra $301 annually for every $100,000 their properties are valued at. CMSD claims this increase would only be around $240 a year for the median city homeowner.
In addition, the bond component would raise $295 million meant for "facilities and capital projects" with the district's current bonds about to expire. The bonds would "be repaid annually over a maximum period of 35 years."
"We stand at a crossroads for funding the future of our children's education," School Board President Sara Elaqad wrote. "Your support for this levy means a direct investment in not just their future, but the future of Cleveland. We've strategically contained costs to minimize the impact on our residents, making this a responsible and crucial step forward for CMSD."
Tuesday's vote on the resolution only begins the political process. Another vote to officially place the measure on the ballot could come in the ensuing weeks.
Watch Tuesday's full Board meeting, complete with Morgan's presentation, in the player below: