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Chicago Public Schools Increased Its 2024 Budget: Who Gets the Extra Money?

Eugene Field Elementary School celebrates Back to School in 2023! Photo courtesy of the Chicago Public School System
Eugene Field Elementary School celebrates Back to School in 2023! Photo courtesy of the Chicago Public School System
8/25/23 - By Lauren LaRoche

Earlier this summer, Chicago Public Schools (CPS) announced that they will add over $240 million in funding at the school level for next year. Despite the bump, roughly one in 10 schools will likely still see cuts in the budget. With a $9.4 billion proposal for the 2024 fiscal year and an estimated pupil-peer spending increase of $1,000, parents have questions about how the money is being allocated, and why some schools are still seeing budget cuts.

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CPS made its $9.4 billion proposal for the 2024 fiscal year public. You can review the CPS 2024 budget here, as well as get information on public hearings. But it's a lot of information to wade through, so here are our highlights:

The CPS 2024 Budget: Where is the extra money going?

Highlights from the proposed budget include:

  • $15 million increase for bilingual instruction funding
  • A 480-seat pre-kindergarten expansion
  • $128 million for special education teachers and paraprofessionals
  • $32 million in new funding for teaching positions, especially within the district's highest-need schools
  • $5 million increase in Equity Grants for smaller and under-enrolled schools, bringing the total to $55 million
  • $13 million in new funding for school nurses, social workers, and case managers

The CPS 2024 Budget: Where are the cuts?

The 2024 budget proposal actually decreased the number of schools that would see flat or cut budgets from 20% to 10%, or about 40 schools across the district. The schools that will see budget cuts:

  • Have seen significant enrollment declines
  • Have seen drops in diverse learners and preschool students, which are two groups receiving more funding in 2024

CPS school budget 2024 
Students at Ruiz Elementary. Photo courtesy of the Chicago Public School System

To watch CPS board meetings live or to watch previous meetings, check out the CPS YouTube page to tune in @ https://www.youtube.com/chipubschools.