School budgets soared more than 16% over the last two years as pandemic relief funds fueled K-12 spending. An August audit of 118 large schools system budgets revealed an average increase was 10.8% from 2020-21 to 2021-22 and 16.5% from 2020-21 to 2022-23. However, Chad Aldeman, policy director of the Edunomics Lab at Georgetown University, warns schools must brace for a period of “bloodletting” by 2024-25 when budgets must adjust back down.
