CPS is finalizing a budget and funding plan they claim will benefit all of the district’s schools – neighborhood and selective enrollment – in the 2024-25 school year.
CPS CEO Pedro Martinez listens to speakers during a Chicago Board of Education meeting at the Chicago Board of Education building in Chicago on March 21, 2024. that would prevent Chicago Public Schools from closing schools or making changes to its admissions policies through 2027, district officials have begun finalizing a budget they claim will benefit all of the district’s schools – neighborhood and selective enrollment – in the upcoming school year.
At schools where larger portions of the student population need access to additional resources, such as counseling or special education, CPS’ revamped funding model provides more discretionary funding per student and smaller ratios of educators to students in the building. For every Opportunity Index point above 14, the district will increase a school’s funding by $12 per student at elementary schools and $18 per student at high schools.
“It does mean though, that at the central level, we have to really find these efficiencies. And it also means that we have to be committed to work together with our unions and our city to make sure we maximize our revenues,” said Martinez, a CPS alumni who studied business and began his education career in school finance before becoming a superintendent in Nevada during the Great Recession in 2009. He was appointed CPS chief in 2021.
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