Giving Compass' Take:
- Samantha Smylie discusses the $76 million increase in Chicago Public Schools' funding, highlighting how it is still insufficient to fully support these schools' needs.
- What is the role of donors and funders in advocating for systems change that allows adequate funding for public schools across the country to provide a quality educational experience for students?
- Learn more about key trends and topics related to education.
- Search our Guide to Good for nonprofits focused on education in your area.
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Chicago Public Schools will receive an additional $76 million from the state this fiscal year for a total of $1.9 billion, according to new data released by the state on Friday. The new figures indicate Chicago had a significant drop in local tax revenue and an increase in the number of English learners, giving it higher priority for additional state dollars. The new calculations also show that CPS is less adequately funded under the state’s formula than it was last year and will now need about $1.6 billion to reach adequate funding.
CPS had projected receiving an additional $25 million in state funding for the upcoming school year through the evidence-based funding formula, according to an April budget presentation leaked to Chalkbeat the district provided to the Chicago Board of Education. At the time, the district believed the budget gap was $529 million. That projection assumed the district would receive the same increase from the state as it did last school year.
Instead, the district will get about $50 million more than expected in April. A spokesperson for Chicago Public Schools said the state’s recent evidence-based funding formula calculations accurately reflect the challenges the district is facing such as the decline in local tax revenue and inflation.
“That increase will help schools and students but unfortunately does not keep pace with inflation, the rising costs of operating our schools, addressing capital needs, and proudly serving a greater percentage of students who require more services and programming,” said Mary Fergus, spokesperson for Chicago Public Schools regarding Chicago Public Schools' funding.
The state prioritizes districts for additional money using a tier system, with those most in need designated as Tier 1 and Tier 2 and those able to use local revenue sources to adequately fund schools falling either in Tier 3 or Tier 4. Chicago has been categorized as a Tier 2 district since 2022, when the city experienced a dip in the number of students from low-income families and a bump in property tax revenue. CPS’s return to Tier 1 this year is the reason for the funding boost.
Read the full article about Chicago Public Schools' budget by Samantha Smylie at Chalkbeat.