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Tracker: Will CPS close the $734M budget gap before the August deadline?
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The Board of Education is required to pass a balanced budget by Aug. 28. CPS leaders in June pegged the budget deficit at an eye-popping $734 million. By mid-summer, they had whittled that down to $569 million through cuts and layoffs. Follow along here to see how CPS closes that gap and to learn how the district got here.
Pavlyn Jankov, a researcher with the Chicago Teachers Union, speaks before a Chicago Board of Education meeting in July about the CPS budget deficit.
CPS has long had a structural deficit caused by state underfunding. That’s exacerbated now by several big challenges: the end of federal pandemic relief money, which the district used for a hiring spree over several years; rising transportation and building maintenance costs; expensive annual debt and pension payments.
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