Nine months into MCCSC’s plan to achieve financial balance, the corporation projects a positive cash balance of over $24.3 million by 2028.
Earlier this year, MCCSC announced a two-year plan to achieve financial health amid state budget cuts. Before the plan, MCCSC was projected to face a debt of over $30.5 million by 2028. Now, MCCSC expects to save about $8.1 million annually.
“We made significant progress in nine months,” said Chief Financial Officer Matt Irwin. “Balance is not achieved. We're not there yet, but we're continuing to work in the right direction.”
Between October 2019 and October 2024, MCCSC lost over 800 students; current projections predict a loss of another 400 students in the next 10 years. Irwin said student enrollment is the No. 1 revenue source for the corporation. Fewer students have caused MCCSC to lose $17.2 million in revenue over the past three years.
Part of the corporation’s plan included cutting 61 health aides, food service and custodial staff earlier this year.
Superintendent Markay Winston said her priority is reducing expenses while minimizing direct classroom impacts.
“We are prepared and responding and continuing to focus on the quality instruction,” she said. “We are committed to making sure that we are feeding our children nutritious and healthy meals. We're going to continue to maintain clean and safe facilities. We're going to continue to transport our children. The quality of instruction in our classrooms and the support services that our children deserve and our community expects, are going to continue. It may look different. In all likelihood, it's going to look different. It will have to look different because we will have fewer dollars to do what we're accustomed to doing. But we're going to deliver on those promises.”
According to Irwin’s presentation at the meeting, consulting firm Policy Analytics projects Senate Enrolled Act 1 will reduce MCCSC funding by more than $30 million from 2026 to 2031. That includes about $1.8 million lost in the operating fund per year due to charter school revenue sharing starting in 2028. MCCSC is also expected to lose between $3 million and $4 million annually due to declining referendum revenue.
Winston said she will continue to monitor the impacts of SEA 1, including examining cost efficiencies corporation-wide and establishing appropriate staffing levels to meet student needs.
“Are there some opportunities where we can save dollars, redirect some of those dollars back into the classroom because of some of the savings that we're able to identify?” she said. “We want to make sure that the decisions that we're continuing to make are educationally sound decisions, that they're good for children, that they are showing that we are fiscally responsible stewards of the public monies, and that they are sustainable.”
In January, MCCSC will launch a financial portal to help the public understand the budget, its two-year strategy and how referenda dollars are being spent. The corporation will provide its next update in February.
Future use of former Herald-Times building, teacher contract
The corporation purchased the former Herald Times building in 2022 for $2.9 million. At the time, the former superintendent thought potential uses could possibly include things like a family welcome center, or a health clinic, or meeting space or bus parking.
“There was kind of a one-stop shop for a family who was moving to Bloomington, enrolling in MCCSC schools, they could go to that welcome center and have access to multiple departments all in one location,” said MCCSC Assistant Superintendent of Human Resources and Operations Jeffry Henderson
The building is currently being used for equipment storage and bus parking. Board President April Hennessey said any change in use would require finding new places for storage and bus parking.
She said while the current cost to maintain the building isn’t high, repairs to the roof and HVAC system are most likely needed.
Irwin said it’s also important to think about how taking on such projects would increase expenditure and impact other buildings.
“We renovate a building, and you do something like that to it, but what are the ongoing commitments and costs that it has along with it to operate it, maintenance, the staffing required, all those pieces that need to be considered as it relates to the impact that it has on the student corporation,” Irwin said.
The board asked the administration to seek public feedback on the building’s current use and educate community members on the subject. Hennessey hopes to send out a form by the end of March ahead of a potential referendum vote.
The board also approved the collective bargaining agreement that MCCSC and the Monroe County Education Association have been negotiating since Sept. 15. The contract, which includes teacher salaries and benefits, passed 7-0 without any comments from the board. At least 20 percent of union members must also vote yes for the agreement to be ratified. The contract is for the next two years.
The new agreement does not change the base salary from last year; the starting teacher salary will be $57,750. But it does offer a stipend of $1,000 per year for teachers rated effective or highly effective. Teachers who add an early literacy endorsement to their license will earn a $200 increase in base salary.
The next board meeting is Tuesday, Dec. 16.
