CPS holding 2 public hearings on proposed budget Tuesday

CHICAGO — The Chicago Public School district is still working to address a $734 million deficit by the end of the month.

On Tuesday, there is scheduled to be two public budget hearings.

Last week, CPS leaders presented a budget plan. On Tuesday, the public will be allowed to review the proposed budget and give feedback before it is finalized.

To fill the gap, the district wants to lay off crossing guards, custodians, cafeteria workers and central office workers.

The budget deficit sits at $734 million. The proposal says the district will refinance debt, use $65 million from a reserve fund, rely on a $25 million philanthropy grant and $380 million in TIF surplus money from the city.

Part of the $734 million is a pension payment that must be paid to the city. It covers non-teacher staff.

The proposal states that CPS will agree to front the $175 million payment if it receives more funding from the state or TIF surplus from the city.

The Chicago Teachers Union has been calling on Govenor JB Pritzker to convene a special session of the General Assembly to address the deficit in state funding.

However, no commitment from the Pritzker or lawmakers.

Mayor Brandon Johnson is suggesting the district should take out a short-term high interest loan. He says there are option two options: make cuts or invest.

According to a report from the State Board of Education earlier this month, CPS would need $1.6 billion more in state funding to provide an adequate education to all students.

The first hearing starts at 1 p.m. Tuesday, the second begins at 4:30 p.m.

On August 28, the Board of Education will vote on the proposed budget. However, CPS is required by state law to pass a balanced budget by August 29.