This blog post examines the Chicago Public Schools’ contributions to the Chicago Teachers’ Pension Fund in the FY2023 budget and the funding status of the Pension Fund based on financial health indicators. Additional descriptive information about teachers’ pension benefits and history can be found in past budget analyses.[1] Members of the Chicago Teachers’ Pension Fund Certified CPS teachers…
The Civic Federation recently released its analysis of the Chicago Public Schools proposed FY2023 budget. The Federation opposed the budget because the District has not provided sufficient justification for raising its property tax to the maximum amount allowed under the Property Tax Extension Limitation Law (PTELL) at a time when taxpayers already face serious economic strains and when CPS has…
CPS student enrollment has been declining annually for the past two decades. In a recent analysis of the Chicago Public Schools proposed FY2023 budget, the Civic Federation highlighted this trend. Specifically, the Federation pointed to an enrollment decline of 18.1% over the last decade, from the 2012-2013 (FY2013) school year to the 2021-2022 (FY2022) school year. School funding at CPS is…
Click here to read the full report (PDF). Click here to read the press release for this analysis. SUMMARY The Civic Federation opposes the Chicago Public Schools (CPS) proposed budget of $9.5 billion for FY2023 because the District has not provided sufficient justification for raising its property tax to the maximum amount of 5% allowed under the Property Tax Extension Limitation Law (PTELL)…
CPS enrollment has been declining steadily for at least the past decade while personnel spending has increased dramatically. In a recent analysis of the Chicago Public Schools proposed FY2022 budget, the Civic Federation raised concerns over this ongoing trend. The Federation specifically pointed to a 13% increase in the District’s operating budget, which is primarily due to an influx of $2.6…
Click here to read the full report (PDF). Click here to read the press release for this analysis. SUMMARY The Civic Federation supports the Chicago Public Schools (CPS) proposed budget of $9.3 billion for FY2022 because it is balanced and supported by federal COVID-19 relief funding. CPS, along with all other state and local government agencies in the United States, has for the past year…
The Civic Federation opposes legislation under consideration by the Illinois General Assembly that would create a 21-member elected Chicago School Board. The proposal would establish a governing board that would: be too large to be effective; lead to expensive and divisive political campaigns funded by interest groups; allow the legislature to create gerrymandered electoral districts; not…
In a recent analysis of the Chicago Public Schools FY2021 budget, the Civic Federation supported the District’s proposed $8.4 billion budget. However, the Federation expressed serious concerns about the budget’s reliance on $343 million in uncertain federal funding not yet approved by Congress and that several of the District’s revenue sources that have been impacted by the coronavirus pandemic…
Click here to read the full report. Click here to read the press release for this analysis. SUMMARY Prior to the COVID-19 pandemic, Chicago Public Schools had reached more stable financial footing than in previous years due to an influx in State-approved funding. Public Act 100-0456, passed in August 2017, instituted the new Evidence-Based Funding formula for statewide P-12 education funding,…
In March Congress passed the $2.2 trillion CARES Act, the third federal coronavirus relief act, which among many other things provided $13.2 billion in funding to K-12 schools across the country.[1] The funding can be spent on programs and coronavirus response including: Technological support for remote learning; Cleaning schools; Providing meals; and Services and outreach for low income…
