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Financial Information

CPS Renewal Levy Passes

Cincinnati Public Schools' renewal operating levy on the November 3, 2020, ballot passed with a wide margin — 69.6 percent for and 30.4 percent against.

The levy raises $48 million annually for CPS for the next five years, starting in 2021. Passage of this renewal levy does not raise a taxpayer's property taxes.

The money continues funding for two district priorities set in 2016: $15 million annually to expand preschool opportunities and $33 million for learning programs for students in kindergarten through 12th grades by continuing college- and career-readiness programs; expanding neighborhood elementary school options; and increasing students' access to technology.

CPS Financially Sound

In January 2020, Moody's Investor's Service affirmed Cincinnati Public Schools’ Aa2 general obligation ratings. In addition, the district maintained its Stable outlook.

CPS has increased enrollment by more than 4,000 students over the last five years — one of the key factors Moody's cited for the improved rating. In addition, Moody's cited Cincinnati’s recovering tax base and the district's stable cash-reserve projections as other favorable factors.

CPS consistently outperforms budgeted expectations, and Moody's attributes this to solid management, conservative budgeting practices and financial forecasting, strong community support, and the successful passage of renewal and new tax levies.

Moody's Rating Report — January 2020
Moody's Rating Report — March 2018
Moody's Rating Report — January 2017

Achievement for Excellence in Financial Reporting

Cincinnati Public Schools' Treasurer's Office qualified for the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting for our 2017 fiscal year-end Comprehensive Annual Financial Report (CAFR). This is the highest recognition for government accounting and reporting. CPS also was recognized for excellence in 2016. 

Excellence in Financial Reporting — 2017
Comprehensive Annual Financial Report (CAFR) — 2017
Comprehensive Annual Financial Report (CAFR) — 2018
Comprehensive Annual Financial Report (CAFR) — 2019

Past Year Budgets

Past Year Budgets and CAFR Reports 

General Fund Budget Process

The district's fiscal year runs July 1 - June 30. The financial process begins in late fall when schools and departments begin preparing their General Fund budgets. (These do not include state programs or federally funded programs such as Title 1). 

In late spring, the Superintendent presents a recommendation for a consolidated district budget to the Cincinnati Public Schools’ seven-member, publicly elected Board of Education for consideration. By the end of June, the Board authorizes funds to be spent for the upcoming school year based on an approved budget.

Understanding School Finance

Bond Issue vs. Levy (definitions)
Non-CPS Costs
CPS' Tax Levy History (1915 - 2016)

Future Outlook

Five-Year Forecast — May 20, 2020
Five-Year Forecast — November 2019
Five-Year Forecast — May 20, 2019 (fiscal years ended June 30, 2016, 2017 and 2018 actual; forecasted fiscal years ending June 30, 2019, through 2023) 
Five-Year Forecast — May 21, 2018 (fiscal years ended June 30, 2015, 2016 and 2017 actual; forecasted fiscal years ending June 30, 2018, through 2022)
Five-Year Forecast —18, 2017 (fiscal years ended June 30, 2015, 2016 and 2017 actual; forecasted fiscal years ending June 30, 2018, through 2022)
Five-Year Forecast — May 22, 2017 (fiscal years ended June 30, 2014, 2015 and 2016 actual; forecasted fiscal years ending June 30, 2017, through 2021)
Five-Year Forecast - Proposed — (fiscal years ended June 30, 2013, 2014 and 2015 actual; forecasted fiscal years ending June 30, 2017, through 2021; approved, CPS Board of Education Oct. 24, 2016)
Five-Year Forecast — May 2016

Fiscal Accountability

Internal Auditor
Action Motion 133

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