Union warns charter operator insolvency could displace hundreds of students; board seeks plan

Union leaders and community speakers used the agenda review meeting on Feb. 11 to press the Chicago Board of Education for emergency planning after a charter operator told the city it could run out of funds mid‑school year.

Jackson Parler, who identified himself as CTU vice president, said the operator Aspira/Espira has declared it is “insolvent” and that “they need $4,800,000 to finish out the school year,” a shortfall Parler and other union representatives said could force students to transfer by early March. Jen Conant, chair of the CTU charter division, told the board that 570 students would likely need to relocate and urged CPS to create a cohort-based transfer plan so students and staff can move together and minimize disruption.

The union speakers criticized the district vendor-renewal process and called for stronger financial guardrails for charter operators, including reserve requirements and closure plans tied to declining reserves. Conant said new state legislation has been introduced that would require operators to keep cash reserves and file closure plans if reserves fall below set thresholds; the speakers said they support that measure.

Board members acknowledged the risk and asked district leadership for more detail. Board member Pope said the board and CEO King must “create a plan so that these students can transition to other schools so that they do not lose their credits,” and asked for an audit of prior financial oversight and what emergency supports the district can legally provide. Several board members pressed interim CEO Doctor Macklin King for a clear financial readout of the advances CPS has provided to the operator and for contingency plans that prioritize students’ credits and graduation timelines.

The board did not take a binding vote on funding at the meeting; members instead asked administration to return with a readout and next steps at or before the Feb. 26 regular meeting. The most immediate procedural outcome was a request from multiple board members for a written accounting of the district’s advances and the operator’s outstanding audit (board member Pope noted an audit due on Nov. 1 had not been provided to the board).