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Financial Information

CPS Aims For Fiscal Balance

This fall, Cincinnati Public Schools will take key steps toward long-term financial and strategic planning for our district — launching a three-year strategic plan, making smart investments through our budget, and asking voters to support a $65-million renewal levy on the November 5, 2019 ballot. These efforts ensure that CPS will be a destination district for students, families and staff.

The investment of critical resources, especially the renewal levy, is essential for CPS to continue to play its vital role in the city and region. The levy generates $65 million annually and won’t raise taxes, supporting the district's ability to maintain smaller, student-centric classrooms; invest in innovative curriculum through our Vision 2020 initiative; provide access to technology in the classrooms; hire highly qualified teachers; and expand opportunities for graduates to be prepared beyond high school — enrolled in college, enlisted in the military and ultimately employed in their chosen careers.

Cincinnati Public Schools Renewal Levy Fact Sheet

CPS Board Asks Voters to Renew Levy

2019-2020 Budget

CPS Financially Sound

In March 2018, Moody’s Investor’s Service affirmed Cincinnati Public Schools’ Aa2 general obligation ratings and Aa3 rating on the district’s certificates of participation (COPs). 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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