Chicago Public Schools seeks public input on $732M budget gap plan

CHICAGO - Chicago Public Schools held two public hearings Monday to gather community feedback on its proposed fiscal year 2027 operating budget, which district leaders say closes a $732 million budget deficit while preserving funding for schools and avoiding additional borrowing.

CPS gathers public input on fiscal year 2027 budget proposal

The backstory:

District officials said the proposed balanced budget protects school budgets, student learning and commitments to labor partners. The proposal does not include any new debt, according to CPS, which said the district already carries about $9 billion in outstanding debt that costs roughly $900 million each year in debt service.

The hearings followed a second consecutive summer of community roundtables held across the district to gather input on budget priorities before the proposal was presented.

CPS leaders, including Acting Chief Financial Officer Walter Stock, Acting Chief Budget Officer Emila Zoko, Chief Operating Officer Charles Mayfield and Chief Facilities Officer Ivan Hansen, answered questions and heard public comments during Monday’s sessions.

The district is also seeking feedback on its proposed FY2027 capital budget, which focuses on facility needs across CPS’ 527 campuses and 799 buildings. District officials said the average CPS school building is 86 years old, requiring ongoing assessments and infrastructure improvements.

What's next:

Three capital budget hearings are scheduled for Wednesday, July 22, and Thursday, July 23. Community members can watch the hearings live on the CPS' YouTube channel and submit written comments on the proposed capital plan through July 23 at 7:30 p.m.

Written comments on the proposed FY2027 operating budget will be accepted through 5 p.m. July 21.