A special resource to help voters navigate the election this November
On July 30, 2026, Chicago Public Schools (CPS, or the “District”) passed a budget for its 2027 fiscal year, covering the 2026-2027 school year. The budget closed a $748 million deficit. However, it did so in part by assuming $150 million in State revenue that has not yet been secured or pledged. This may lead to a mid-year budget gap that will necessitate greater cuts than would have otherwise…
A thoughtful nonpartisan conversation with CPS Board leadership about the fundamentals of good school governance.
On July 30th 2026, the Chicago Board of Education approved a $10.1 billion budget for the 2027 fiscal year. Although the approved budget largely mirrored the budget proposed by Chicago Public Schools’ CEO Macquline King, it contained one major deviation. Before passing the budget, the Board voted on the adoption of an amendment that restored existing the CEO had cut to balance the proposed budget…
This report is a 2026 update with numbers through 2025. The original report with numbers from FY2014-2023 is published here. The Chicago Public Schools District (CPS, or the ‘District’) has over 45,000 employees, all of whom are guaranteed a pension after retirement if they have met service time requirements. The teachers and some administrators participate in the Chicago Teachers’…
The Chicago Public Schools (CPS, or the ‘District’) is lacking the cash that it needs to meet operating costs. The crunch has become so bad that CPS’ finance team has voiced concerns about an inability to make payroll in September if a FY2027 budget is not passed by the end of July. This piece will explain what this cash shortage is, how it came about, and what CPS can do to alleviate it.
Chicago Public Schools (CPS or the ‘District’) introduced a proposed $9.88 billion budget for fiscal year (FY) 2027 on July 15, 2026. Much of the discussion in the week since has surrounded how the District proposes to address ongoing fiscal uncertainty and the degree to which it continues to rely on uncertain revenues. Given the volatility and uncertainty associated with Tax Increment Financing…
Join us as we break down the CPS FY2027 Budget through a moderated discussion in partnership with Kids First Chicago!
Debt is an essential part of every local government’s budget, but often a confusing one. In the Chicago region, many local governments are overburdened by debt, often citing it as a high “legacy” cost that constrains discretionary spending. This report will serve as a basic primer on how municipal debt works and how it is meant to be used, using the debt load of one local government as a case…
Tax Increment Financing, or TIF, is one of the most widely used—and often misunderstood—economic development tools in Illinois. With approximately 1,488 active TIF districts across 511 municipalities in Illinois as of 2025, TIF plays a significant role in shaping local investment, property tax dynamics, and public finance. This primer explains how Tax Increment Financing (TIF) operates in…
