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Budget 2024

While next school year may be months away, CPS has been hard at work on next year’s budget. Learn more about our investments for the upcoming school year.

 

View these resources for the most complete set of information about our FY2024 school budgets:

Key Facts

After concluding our stakeholder engagement  process, principals are given their  initial school budgets in April, so they can make important decisions about staffing and investments at the school level. While these individual school budgets aren’t finalized yet, here are some key facts that we can share at this point:

  • School budgets have increased by almost $400 million over the last two years, with a $240 million increase from FY2022 to FY2023 and a $150 million increase from FY2023 to FY2024
  • Per-pupil spending is increasing by almost $1,000 in school budgets compared with last year
  • 91 percent of schools will have a higher per-pupil funding level compared with last year
  • 82 percent of schools are gaining funding overall compared with last year

Highlights of New Investments in FY2024

  • $100M in additional funding for special education teachers and paraprofessionals
  • $32M for new teaching positions allocated to all schools with additional positions for high Opportunity Index schools
  • $15M increase in funding for bilingual instruction, including $8M in additional funding for enrollment adjustments at schools receiving new arrivals 
  • $5M increase to Equity Grants for smaller and under-enrolled schools
  • Expanding Pre-K by 420 seats with programs in all Chicago communities

Continuing Key Investments from FY2023

  • $45M to provide teacher professional development district-wide and fund additional instructional coaches at 184 schools
  • $15M to provide additional district-funded counselors at 131 of the district’s highest-need schools
  • $8M to support athletic administration, including full-time athletic directors at over half of district high schools
  • $11M to support 80 schools with significant year-over-year enrollment changes to ensure resourcing for programming
  • Continued support for expanded Summer Programs and Out-of-School Time Programs
  • Continued central funding of student devices and curricular supports
  • Continued funding for Tutor Corps, nurses, social workers, SEL resources, and 50 advocates for Students in Temporary Living Situations (STLS) at 45 schools with high STLS enrollment