CFO Key To Bolstering Cleveland District Schools

Feb 17, 2022, 1:25 PM

(from EdWeek) In the early days of the pandemic, Derek Richey, the chief financial officer of the Cleveland School District, created a doomsday plan in case a financial levy failed, to cut nearly 12% of the district’s $1.5 billion budget and lay off 675 employees. Thanks in part to his efforts, the levy passed, and the direst predictions about the economy and a corresponding fiscal crisis for districts didn’t materialize. His meticulous planning and leadership, however, helped ensure that Cleveland public schools are on sound fiscal footing to weather any future financial storm. He has expanded his role beyond the quotidian duties of ensuring that principals, teachers, students, and academic and nonacademic programs are central to the district’s financial calculus. He doesn’t simply ensure that there are line-item allocations for programs; Richey collaborates with building-level educators and department heads about what best fits their needs.