Monday, July 20 - 2nd Budget Hearing

The Chicago Public Schools held their second FY27 budget hearing on July 20, 2026, to discuss the proposed $9.88 billion budget for the 2026-2027 fiscal year. The hearing focused heavily on addressing a $732 million budget deficit, with presentations detailing the allocation of funds across capital, debt, and operating budgets. Key procurement-related topics included the need for short-term borrowing authority through tax anticipation notes (TANs) to maintain payroll and vendor payments, and the identification of contractual savings initiatives to reduce costs. The budget proposal emphasized protecting classroom instruction and student services despite structural reductions, including a projected decrease of 164 school-based positions. Public speakers, including union representatives and educators, strongly opposed furloughs and layoffs, urging the board to seek additional funding from city and state sources, particularly highlighting delays in property tax revenue from Cook County and insufficient state funding through the evidence-based formula. Board members discussed the importance of advocacy for increased state funding and the necessity of passing a balanced budget by July 30 to authorize the tax levy and secure borrowing. The hearing concluded with commitments to ongoing budget transparency and community engagement throughout the school year.