CPS leaders to discuss possible loss in operating funds

The Board of Education for Columbia Public Schools will discuss what to do to stay ahead of a projected decrease in funding between the 2018-19 school year and 2023.

A financial update, that is attached to Monday’s meeting agenda, shows operational funds could drop from $58 Million to $48.4 Million over the next five years because of “ever-changing” revenues from state and federal sources.

Although 65 percent of CPS funding comes from community sources such as a property tax, there is a concern the district’s reserve could drop.

CPS aims to have 18-20 percent of the total expenditures on hand in operational funds, according to Superintendent Dr. Peter Stiepleman. According to the presentation, operational funds for the 2018-19 school year will equal about 27 percent of total costs. The projection for the 2022-23 year shows a drop to about 20 percent.

Stiepleman says the board will not be waiting to start a discussion on how to make up for the projected drop in operational funds. “We can’t wait five years,” Stiepleman said. “For us it’s about having those conversations now.”

According to the CPS website, the school district expects 1,000 additional students to enroll over the next five years. There are currently about 18,500 students in the 36 buildings used by Columbia Public Schools.