Overview

• CPS faces a $529 million shortfall for fiscal year 2026, which begins July 1
• CTU president Stacy Davis Gates argued that borrowing is necessary to preserve the district’s four-year, $1.5 billion contract and prevent staff and program cuts
• Interim CEO Macquline King will preside over her first Board of Education meeting without a clear plan to bridge the budget gap
• According to the state’s funding formula, CPS should receive roughly $1.2 billion more annually and the Civic Federation has suggested a state takeover of CPS finances
• The U.S. Department of Education has launched two Title IX investigations into CPS for alleged discrimination in its Black Student Success Plan and transgender student policies