CPS Proposes FY18 Budget That Builds on Academic Success 


Despite Financial Uncertainty for All Illinois Districts, CPS Will Open on Time and Stay Open for Students
FOR IMMEDIATE RELEASE:
Friday, August 11, 2017      

For more information, contact:
CPS Office of Communications
Phone: 773-553-1620

As school districts across the state issue uncertain budgets in the shadow of Governor Rauner’s veto of historic education funding reform, today CPS published a budget that will maintain critical investments that are helping students reach new academic heights.

“Every district in Illinois is facing unnecessary – and unconscionable – uncertainty about how much funding they will receive from the State, thanks to Governor Rauner’s veto of a historical education funding reform bill,” said CPS CEO Forrest Claypool. “Despite this uncertainty, CPS schools will open on time and stay open – a statement that, unfortunately, many other districts cannot make. Let no one forget the single most important part of this debate: ensuring that all students have the resources to get the education they deserve. That is at the heart of this debate. And it is at the heart of all our work.”

Today, CPS is releasing a $5.7 billion budget framework that outlines how the district will move forward to ensure that Chicago’s children can continue their blazing academic progress. When the dust has cleared in Springfield, like many other districts, CPS will release a budget that incorporates any changes or revisions required, if necessary at that time.
 
This budget assumes that the State will enact education funding reform along the lines of Senate Bill 1, which is the only evidence-based funding model that has won approval from the General Assembly. Under this model, 268 districts would receive more money per pupil than Chicago. CPS would receive $300 million in additional funding in FY18, despite the fact that independent fact checkers say that if Chicago students were treated equally, CPS should receive $500 million.

This budget also assumes that CPS will receive an additional $269 million in local resources to address its remaining budget gap, and is working with the City of Chicago to identify potential sources.

Indeed, 855 districts’ budgets are in limbo and many districts are in jeopardy because Governor Rauner refuses to acknowledge that his politically motivated claims about a CPS bailout are categorically false, as proven time and again by independent fact checkers.

This budget will build on management reforms and efficiencies that have saved hundreds of millions of dollars and allowed more resources to be directed to classrooms, where they matter most. Over the past two years, this administration has made significant strides in managerial and administrative efficiencies, creating structural budget savings of $145 million, including closing roughly a quarter of the positions in Central Office.

In addition, in FY18, CPS will continue its previously announced capital projects, as well as investing $139 million more to make critical facility repairs.

The proposed FY18 budget will be made available for public comment the week of Aug. 21, when the district will hold four meetings to discuss the budget and proposed capital plans. Capital hearings will be held Aug. 21 at three locations from 6 to 8 p.m. Registration begins at 5 p.m., and locations will be announced shortly. Budget Hearings will be held Aug. 23 at CPS, 42 W. Madison. Hearings will be held at 12:30 and 3:30 p.m.

The final budget is expected to be presented to the Board for a vote at its August meeting, which is scheduled for August 28.

Additional information on the FY18 budget is available at www.cps.edu/budget.  

Page Last Modified on Friday, August 11, 2017