Chicago Public Schools released a $9.9 billion budget that it claims is balanced for the 2024-25 school year, with a $500 million spending increase over the previous school year.
Pedestrians pass Chicago Public Schools Headquarters on Madison Street on May 28, 2024. CPS released its $9.9 billion budget on Wednesday. In releasing its proposed $9.9 billion budget, Chicago Public Schools announced Wednesday that the district closed a deficit that had ballooned from an initial projection of $490 million to $505 million, through district-level rather than
The total proposed budget’s $500 million increase over last year’s $9.4 billion reflects facility investments that are “vital to keeping facilities operating safely and smoothly,” according to CPS.will cumulatively increase by $149 million compared with the start of last year — a margin that the district attributed to the cost of required services for special education students, state-mandated charter school funding increases and expanded bilingual services.
If approved, the proposed spending plan will take effect amid a second year of projected enrollment growth, with the district noting it’s serving not only more students, but specifically “more students with greater needs.
“Our dedicated staff and amazing students have proven what it takes to make progress and show amazing academic growth,” Board of Education President Jianan Shi said in a district news release. “Now we must all work together as the leaders supporting the state’s largest school district and post similar progress when it comes to securing the public education funding that will sustain and improve academic excellence for today and tomorrow’s Chicago students.
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