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Reader's Guide

The CPS FY2024 Proposed Budget is the financial policy plan proposed to the Chicago Board of Education (Board) for the fiscal year beginning July 1, 2023, and ending June 30, 2024. The proposed budget is available to the public at Physical copies of the FY2024 Proposed Budget are available at the Board Office at 1 North Dearborn St., Suite 950, Chicago, Illinois 60602.

The FY2024 Proposed Budget includes narrative overviews of CPS programs, goals, financial policies, and procedures; a budget summary; and detailed financial tables.

The following chapters are included:

Budget Overview

This chapter provides a summary of the District’s budget and highlights the District’s major strategic initiatives and developments around funding. Specifically, this chapter discusses how the District invests resources to achieve goals and objectives. Summary tables, including year-to-year and budget-to-actual comparisons, provide additional insight into CPS’ financial picture.


This chapter describes each of the District’s revenue sources, the assumptions and factors that influence CPS’ revenue projections, and year-to-year comparisons.

Schools and Networks

This chapter provides an overview of school budgets and the resources given to schools, as well as a year-over-year comparison of total school funding. It defines the various types of schools within CPS, the demographics of the District, and the programs CPS provides to students. Additionally, the chapter outlines the network management structure for District-run schools, which provides administrative support and leadership development to schools and school leaders.


This section profiles each Central Office department, including its mission and major programs, FY2024 budget summary, major accomplishments, and key budget initiatives.


This chapter provides a basic overview of the District’s pension obligations, funding streams, and projected future outlook.

Capital Budget

This chapter describes CPS’ plan for major infrastructure investments, outlines the projected expenditures for multi-year projects, and explains the impact of the capital budget on operating expenses. A separate capital plan website with project details can be found at

Debt Management

This chapter provides detail on the Board’s debt management practices. It presents a complete picture of the District’s use and management of debt, including current outstanding debt, proposed debt issuances, and all debt service requirements.

Organization Chart

The organization chart reflects the leadership and organizational structure for CPS.

Fund Descriptions

This chapter describes the four governmental fund types used by CPS to ensure taxpayer dollars are spent as authorized: General Fund, Special Revenue Funds, Capital Projects Funds, and Debt Service Funds. CPS will continue to distinguish how funds are received and spent by using the following categories: General Budgeted Funds, School Generated Funds, State and Federal Grant Funds, Capital Projects Funds, and Debt Service Funds.

Cash Management

This chapter provides detail about CPS’ projected cash flow throughout the fiscal year and cash management strategies.


This section includes answers to some typical questions about the budget book at

More Information

This section includes the following appendices:

  • Appendix A — Demographics: Provides detailed information about the District's structure, school populations and employees, and the larger community in which CPS students and their families reside.
  • Appendix B — School Funding Formulas: Outlines the funding formulas used to allocate resources to schools.
  • Appendix C — Budget Process: Provides CPS’ detailed budget calendar and process, which is required by law.
  • Appendix D — Financial Policies: Explains the policies and procedures followed during the budget process.
  • Appendix E — Glossary: Provides an alphabetical listing of specialized terms found throughout the budget book.

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