Chicago Public Schools officials will have to find $391 million in additional funding by next summer or face cuts across the school system in the face of a massive structural budget deficit.
District leaders and Board of Education officials for the past year have warned of a financial cliff approaching next school year when federal COVID-19 relief funding runs out. That money had papered over a structural deficit that officials estimate at $691 million for next year. With only $300 million in federal funding left to spend, CPS’ budget hole becomes exposed.
