School districts across the country are anticipating widespread reductions in revenue starting in 2024, compounded by declining enrollments and cost inflation. Although districts have seen this fiscal cliff on the horizon, it still represents a shock and requires a reckoning with stakeholders over what to cut.
As finance teams present next year’s budget to school boards, they must start negotiating difficult trade-offs, which could mean leaner dental and vision plans, reductions in force, ending the school year early, or other potential cuts. Some cuts may require gathering public input on the decision making.
- Publication date: August 2024
- Author: Chris Adams