CPS budget shortfall remains unresolved ahead of new academic year

CHICAGO (WGN) — Chicago Public School students will return to class on Monday, but the district likely won’t have a budget in place when the school bell rings as work continues to close the gap of more than $730 million.

With less than a week until the CPS new academic year begins, it’s still unknown how officials will deal with the approximately $734 million budget shortfall.

Chicago Mayor Brandon Johnson on Tuesday said only two choices remain.

“We’re either going to cut or invest,” Johnson said. “Those are our options right now.”

The Chicago Teachers Union is calling on Illinois Gov. JB Pritzker to convene a special session of the General Assembly to address the deficit in state funding. So far, there has been no commitment from the governor or state lawmakers. 

Last week, a report from the state Board of Education showed Chicago Public Schools would need $1.6 billion more in state funding to provide an adequate education to students. 

“I want a fully funded public education system. Parents around the city want that. They’re advocating for that. They’re also advocating for $1.6 billion that the state of Illinois rightfully owes the children of this city.”

As that argument simmers, CPS Interim CEO Mack-Lynn King must present a balanced budget to the school board by Wednesday, and by law, it must be passed by August 29. So far, the district has laid off custodians, crossing guards, cafeteria workers, and some central office employees.

The interim CEO has reportedly resisted the mayor’s plan to take out a high-interest loan. King spoke with WGN News last month about the deficit. 

WGN: “How will you address the shortfall?” 

KING: “So, everything is on the table. Everything is on the table. However, everything is on the table centered around students.”

The debate over the school district’s finances comes at the same time Johnson is looking for ways to plug the city’s billion-dollar budget gap.