Overview

• State data show Chicago Public Schools’ funding adequacy dropped from 79% to 73%, creating a $1.6 billion gap against the formula’s target
• CPS projects a $734 million shortfall for the upcoming school year and has already reduced that gap by $165 million through layoffs and efficiencies
• An extra $76 million in state aid raises total funding to $1.9 billion but still leaves CPS roughly $490 million short of adequacy
• The district must release its budget draft by Aug. 13 and secure board approval of a balanced plan by the Aug. 28 legal deadline
• Mayor Brandon Johnson is working with CPS leadership and the Chicago Teachers Union to pursue central office cuts and press lawmakers for additional revenue