Overview

• King’s proposal presented Aug. 13 omits the contested $175 million municipal pension payment legally assigned to the city.
• The plan declines Mayor Brandon Johnson’s preferred large short-term, high-interest loan to avoid potentially worsening CPS’s credit rating.
• CPS is relying on $379 million in TIF surplus, debt restructuring and one-time funds to close the $734 million deficit.
• Cuts focus on custodial, meal service, crossing guard and central office roles, with classroom positions largely protected.
• Public budget hearings begin Aug. 19 and the board must vote by Aug. 28 as TIF transfers and state aid approvals remain uncertain.