Monday, July 20 - 1st Budget Hearing

The Chicago Public Schools (CPS) held their first FY27 budget hearing on July 20, 2026, to discuss the proposed $9.88 billion budget for the 2026-2027 fiscal year. The hearing included extensive public participation, with educators, union representatives, and community members expressing concerns about significant budget shortfalls, proposed layoffs of nearly 2,000 staff including many special education teachers, and cuts to programs such as libraries and extracurricular activities. CPS leadership presented the budget as a "bridge budget" designed to address a $732 million deficit through a combination of structural reductions, anticipated revenue increases, and additional measures like furlough days and a midyear spending freeze. The discussion highlighted challenges with delayed property tax revenues from Cook County, the need for additional state funding, and the district's reliance on short-term borrowing (TANs) to meet payroll and vendor payments. Board members questioned the assumptions around revenue, especially related to tax increment financing (TIF) surpluses and state grants, and emphasized the urgency of passing the budget by July 30 to avoid payroll disruptions. The hearing underscored ongoing efforts to advocate for increased funding at the state level, including calls for a special legislative session, and the complexities of balancing fiscal responsibility with minimizing impacts on students and staff.