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Chicago Public Schools (CPS) has released the Fiscal Year 2026 school budgets, maintaining consistent total funding across the district compared to the previous year. Adjustments have been made to individual school budgets based on changes in student enrollment, academic programming updates, and each school's evolving needs. These budgets precede the final District balanced budget set for approval by the Chicago Board of Education in August.
“The District has a fundamental responsibility to deliver an excellent education to every student while being a responsible steward of public funds,” stated Interim Superintendent/CEO Dr. Macquline King. “The individual school budgets released today reflect our commitment to equity, transparency, and student-centered decision making.”
CPS has collaborated with school leaders on staffing adjustments aimed at ensuring equitable distribution of resources and appropriate support for all students. The shift from a student-based budgeting model to a needs-based approach in 2024 underscores CPS's dedication to equity by guaranteeing baseline funding for all schools and allocating additional resources based on specific needs.
Changes in individual school budgets are driven by shifts in enrollment, programming, and specific needs. Special education staffing adjustments align with state law and current student requirements. CPS emphasizes transparency and collaboration as it strives to provide high-quality education.
Despite maintaining overall funding levels, CPS faces a $734 million budget deficit that must be addressed before presenting a balanced FY2026 budget by August 29. Interim Superintendent/CEO King is working with various stakeholders to develop a sustainable financial plan.
Community engagement events will be held over the next two weeks for public input on strategies to close the budget gap. Details are available at cps.edu/budget.
