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CPS faces $734 million FY2026 shortfall; staff to host public learning and community feedback sessions
Summary
Chicago Public Schools staff told the Board of Education's Agenda Review Committee on July 9 that the district faces a $734 million budget gap for fiscal year 2026 and announced an outreach plan of public learning sessions and five community feedback meetings July 14'21 to gather priorities and ideas to close the gap.
Chicago Public Schools staff told the Board of Education's Agenda Review Committee on July 9 that the district faces a $734 million budget gap for fiscal year 2026 under a conservative scenario that counts known revenues and potential expenses. Interim CEO Dr. King Macklin King and Chief Budget Officer Mike Syskowski said the projection includes a possible $175 million reimbursement to the city for municipal employee pension obligations (MEBF) and does not assume any unconfirmed new revenue.
The board was given a breakdown of the major cost drivers: substantial growth in required services for students with disabilities (staffing increases since 2019 that the district estimates have raised annual costs by roughly $450 million), rising maintenance and repair costs for aging buildings (an 85-year average building age and an estimated $14 billion backlog that has increased annual…
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