Ann Arbor Public Schools Struggle to Fill CFO Vacancy After Financial Shortfall
In Ann Arbor, Michigan, the public school district is grappling with a critical need for a Chief Financial Officer (CFO) following a two-year vacancy. The absence of this key leadership role comes at a challenging time, as the district works to recover from a $25 million budget shortfall that occurred during the 2023-24 school year.
The Financial Challenge
Ann Arbor Public Schools (AAPS) has been navigating the aftermath of a significant financial shortfall that forced the district to lay off staff and implement other cost-cutting measures. While officials have stated that the district is no longer in a state of crisis, the recovery process remains ongoing. The district’s fund balance, or savings, was at a precarious 2.2% of its spending at the start of the 2024-25 school year, far below the average levels seen in other Michigan districts.
Recovery Efforts
By the end of the 2024-25 school year, the district had managed to increase its audited balance to $21.6 million, or just over 7% of school spending. This progress was enough to remove the district from a state watchlist that tracks districts with low fund balances. However, projections indicate that the balance could drop to $15.8 million, or just over 5%, by the end of the current fiscal year. This level is considered the state minimum, and district leaders are concerned about the potential for another shortfall.
The Importance of a CFO
Torchio Feaster, president of the Ann Arbor School Board, has made filling the CFO vacancy a top priority for 2026. He emphasizes the need for a CFO to ensure that the district does not return to the financial instability it faced in the past. “I think in order to do that, we need to hire a CFO,” Feaster said in a recent interview. “And I think hiring a CFO is a huge priority for this board.”
Challenges in Finding Qualified Candidates
The district has struggled to find applicants with the necessary qualifications to handle the complexities of school finances. The position was last filled in late 2023 by Jill Minnick, who left the district shortly after. Since then, the district has relied on consultants and other staff to manage budgeting needs. AAPS Superintendent Jazz Parks noted that the district has gone through multiple rounds of interviews without success in finding a suitable candidate.
The job posting for the CFO position, which was originally structured as the assistant superintendent for finance and operations, has been relabeled in an effort to attract more applicants. The salary range remains $152,250 to $173,250, and the qualifications include a master’s degree in business or school administration and at least five years of experience as a school business official or financial official.
The Road Ahead
Despite the challenges, the district remains committed to finding a CFO who can provide the expertise needed to manage its finances effectively. The search is currently in its third cycle for the school year, with each candidate undergoing a rigorous screening and interview process. Parks expressed hope that the district would be able to fill the position before the end of the school year.
District’s Financial Future
As AAPS continues to work toward financial stability, the hiring of a CFO will be a critical step in ensuring that the district can meet its financial obligations and provide a high-quality education to its students. The district’s ability to maintain a healthy fund balance will be closely watched, and the role of the CFO will be essential in achieving this goal.
For now, the district remains focused on its recovery efforts and the search for a qualified CFO. The community will be watching closely as the district navigates this challenging period and works to secure its financial future.
