Overview

• CFO Miroslava Mejia Krug told members the board could authorize emergency borrowing later with a simple majority, though adding new expenses still requires a two‑thirds vote.
• The proposed $10.2 billion plan closes a roughly $734 million gap without classroom cuts, ties a $175 million city pension reimbursement to new revenue, and excludes a short-term loan.
• Mayor Brandon Johnson, the Chicago Teachers Union, and aligned members want the budget to commit to the $175 million payment and keep a loan option, while CPS leaders warn of downgrades and higher costs.
• The plan assumes a record $379 million in TIF surplus that senior mayoral aide Jason Lee called uncertain, as City Hall and aldermen have not committed to that level.
• State experts warn failure to pass a budget by week’s end could draw state scrutiny and risk payroll, as 26 aldermen urge the board to avoid new borrowing even as they signal support for some TIF surplus.