CPS raises concerns about financing and school opening after education board approves amended budget

August 1, 2026 - 11:23

The Chicago Board of Education gave the green light to an amended budget this week, but the approval came with a stark warning from district leadership. CPS officials say the plan depends on an extra $150 million from the state that has not yet been secured, leaving the start of the school year in question.

The revised spending plan fills a gap that emerged after the district failed to secure a short-term loan it had counted on earlier this summer. Instead of borrowing, the budget now assumes that Springfield will step in with new money. But no such allocation exists in the current state budget, and there is no clear timeline for when lawmakers might act.

During the board meeting, CPS Chief Executive Officer Pedro Martinez did not hide his concern. He said the district is doing everything it can to open schools on time, but he also made it clear that without the state funds, difficult choices will have to be made. Those could include delayed payments to vendors, reduced services, or even a later start to the academic year.

The board voted along party lines, with most members saying they had no choice but to approve the budget to keep the district running. But several members voiced frustration, noting that the city and state have been slow to address the district's deeper financial problems.

Parents and teachers have reacted with anxiety. Many are worried that the uncertainty will lead to last-minute disruptions, especially for families who depend on school meals, transportation, and after-school programs. The district has promised to provide more details in the coming weeks, but for now, the only certainty is that the money is not there yet.