Columbus City Schools could go bankrupt by 2030 despite billions in budget, millions in cuts

Even though Columbus City Schools cut millions from its billion-dollar budget and fired 60 employees, the district could still go bankrupt by 2030.

CCS Treasurer Ryan Cook said during the Tuesday board meeting that the district would be out of money by fiscal year 2030, according to The Columbus Dispatch.

According to Cook, the comparison between the 2025 and 2026 five-year forecasts shows reductions of $53.7 million in projected cash balances for fiscal year 2029 and $99.1 million for fiscal year 2030.

The most significant shift in the updated projections is a $93.4 million increase in health insurance premium costs across the five-year period.

CCS Open Finance indicates that the district has a $1.24 billion revenue budget and a $1.82 billion expenditure budget.

“We’ve seen tremendous upward pressure on our expenditures,” Cook told The Columbus Dispatch.

Cook also said the district will lose even more money after Ohio lawmakers recently passed property tax relief laws, adding that over the next five years, the district will lose $17.5 million as a result.

The district recently announced it will cut $50 million from its budget and lay off 60 employees.

“We know it’s inevitable because 80% of the budget is personnel, and so when you have to get rid of $50 million, you know that a large part of it is going to be personnel,” Board President Antoinette Miranda said, per WCMH-TV. “But we really look at how we do not impact what’s happening in the classroom.”

Despite that, Cook said additional cuts are needed.

“As this forecast shows, our work still isn’t done,” Cook told The Columbus Dispatch. “The deficit spending continues.”

Miranda agreed with Cook, pointing out that the total projected deficit is now over $100 million.

“We’re going to run out of money,” she told the Columbus newspaper, adding that the Ohio government is failing to support public education and has not passed a “fair school funding” formula in the 2025 biennial budget.

Despite financial challenges, the district recently announced it had launched a foundation to expand opportunities for its 45,993 students.

“The foundation exists to expand opportunity, fuel innovation, and support student success across Columbus City Schools. So that means connecting schools, families, and the broader community to the resources students still need, not just to graduate, but to thrive in college, career, and in life,” CCS’ Board of Education President Christina Vera told WOSU.