Overview

• State calculations place CPS in Tier 1 as its funding meets only 73 percent of the evidence-based adequacy target.
• The latest formula adjustments award CPS a $76 million boost, bringing its total state funding to $1.9 billion this fiscal year.
• Despite the increase, CPS faces a $734 million operating deficit and is legally required to present a balanced budget by late August.
• Expiration of federal COVID relief, a plunge in corporate replacement tax revenues and sub-inflationary annual formula inflows have widened the district’s shortfall.
• Chicago Teachers Union leaders and board members are urging Governor Pritzker and legislators to call a special session and explore new revenue reforms to meet the 90 percent adequacy goal by 2027.