Overview

• The board approved the 2025–26 spending plan on a 12–7 vote with one abstention, meeting the state deadline and keeping schools open.
• The budget assumes $379 million in tax increment financing surplus that has not yet been secured, with City Council decisions still required despite a supportive aldermanic letter.
• The plan treats a $175 million municipal pension payment as a city responsibility, though the Sun-Times reports the budget contains no guarantee that CPS will make that payment.
• Outlets differ on whether the board added authority for a $200 million high‑interest loan, with the Tribune reporting inclusion and the Sun-Times reporting rejection; CPS finance officials have warned such borrowing could raise costs and hurt credit.
• Mayor Brandon Johnson’s late appointment of Ángel Vélez shifted board dynamics, yet interim CEO Macquline King advanced the version that excluded a guaranteed pension payment and loan.