Overview

• The Chicago Board of Education is holding two public hearings today at 1 p.m. and 4:30 p.m. on the proposed 2025–26 budget.
• Interim CEO Macquline King’s nearly $10 billion plan closes the shortfall with refinancing, $380 million in TIF surplus, $65 million from reserves, and a $25 million philanthropy grant, with additional administrative cuts discussed.
• The proposal excludes a high‑interest short‑term loan and makes the city pension reimbursement for non‑teaching staff contingent on new city or state revenue.
• Layoffs target crossing guards, custodial and cafeteria workers, and central office positions in an effort to avoid immediate classroom cuts.
• Fox 32 reports nine board members back the plan as written and 10 want changes including a $200 million loan and a guaranteed pension payment, as the board faces an Aug. 28 vote and a state‑mandated Aug. 29 balanced‑budget deadline.