Chicago Public Schools (CPS) is facing a $734m budget deficit, as revealed by interim chief executive Macquline King during a school board meeting on Thursday. The figure has increased from a previously estimated $529m and includes a $175m pension payment and $30m for absorbing five Acero charter schools. King emphasized the need for transparency and collaboration, stating, “Transitions bring change. But they also bring opportunity.” With the new school year starting on August 18, the district may need to consider staffing cuts or high-cost loans if additional funding is not secured. Union leaders, including Stacy Davis Gates of the Chicago Teachers Union, are advocating for increased state funding to address the financial challenges.
Chicago Public Schools faces $734m budget crisis
145 responses to “Chicago Public Schools faces $734m budget crisis”
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