Chicago Public Schools passes budget, but deficits driven by hiring nearly 8,000 staff since 2020

Chicago Public Schools passed a $10.2 billion budget for the 2025-2026 fiscal year on a vote of 12 yes, 7 no and an abstention on Aug. 28, but left out was a controversial loan to pay the city for pensions that could have further wrecked the district’s credit rating - Bryce Hill

• While much of the conversation around district finances was centered on how to bring this year’s budget into balance with a $743 million hole in it, relatively little attention was given to how district finances devolved into massive, recurring deficits.

With billions in temporary federal aid, CPS was able to avoid projected shortfalls until 2025, when the district spent the final $233 million in pandemic-related aid...