CHICAGO — Today, Civic Federation President Joe Ferguson released the following statement on Chicago Public Schools' FY2027 budget:
“Sound budgeting, and the law, require reliable, fact-based revenue projections. By approving an amendment that assumes $150 million in additional State funding that has neither been approved nor identified, the Chicago Board of Education abandoned those principles. The Civic Federation is deeply disappointed that the Board chose to reject the responsible fiscal approach reflected in District leadership's proposed budget and instead rely on speculative revenue to close a significant budget gap, creating needless crisis and chaos for what appears to be political objectives.
We strongly support the CEO's objection to this amendment and commend her commitment to presenting a budget grounded in realistic financial assumptions.
By adopting a budget that relies on uncertain State revenue, the Board has increased the District's financial risk. If these funds do not materialize, CPS will likely need to enact mid-year cuts and layoffs and further delay the long-term reforms needed to restore the District's financial stability. Ultimately, it is Chicago's students and their families who bear the immediate consequences of today's decision.”
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