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Caney Valley Schools
Posted: Jun 15, 2026 3:45 PMUpdated: Jun 15, 2026 3:45 PM
Caney Valley Superintendent Confirms $400K Shortfall
Nathan Thompson
Caney Valley School District officials are working to close a nearly $400,000 budget shortfall after discovering the district overestimated state funding tied to student attendance, Superintendent Steve Cantrell said to our partners at News On 6.
Cantrell says the district believed it would receive approximately $7 million in funding for the current school year but ultimately received about $6.5 million because of a significant decline in student enrollment and attendance.
The discrepancy was identified in April by the district’s financial advisor.
“The bottom line for me is I should have caught that number discrepancy in our budget formula,” Cantrell said. “I missed it. I’m a firm believer that I’m the one that should have caught that.”
According to Cantrell, enrollment had remained between 750 and 770 students in recent years before dropping to 633 students this past fall. As a result, the district maintained staffing levels appropriate for roughly 770 students despite receiving funding based on the lower enrollment figure.
Cantrell said the district unknowingly overspent by hiring for positions that may not have been necessary had the funding shortfall been recognized earlier.
To address the deficit, the district plans to reduce next year’s budget by more than $1 million. Cantrell says most of those reductions will come through employee departures rather than layoffs.
Cantrell says 10 staff members resigned and four retired at the end of the school year. Of those 14 positions, only three will be filled, resulting in an estimated savings of $700,000. The district also projects saving $279,000 by not retaining four temporary certified staff members and another $170,000 through the elimination of six support staff positions.
Combined, the staffing changes are expected to save approximately $1.15 million in salaries and benefits.
Cantrell says the district anticipates operating under a non-payable warrant in the fall, which he described as a common financial practice among Oklahoma school districts. He said incoming tax revenue during December and January should help restore the district’s financial balance.
“There’s no money missing,” Cantrell said. “Every dollar that was spent was spent trying to benefit our students.”
Addressing concerns about financial oversight, Cantrell says district expenditures require approval from multiple individuals, including supervisors, the encumbrance clerk, the superintendent or district treasurer, and ultimately the Board of Education.
“No one person can initiate and complete a transaction without oversight from others,” he said.
Cantrell also pointed to the district’s annual audit process as an additional safeguard, saying the district selected an independent auditing firm known for conducting thorough reviews.
The district plans to publicly release responses to questions submitted by Ramona community members during a meeting last week. The Caney Valley Board of Education is scheduled to meet again June 18.
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