Dear Parents / LSC members,
Today, we are excited to announce that we have provided principals with their school budgets for the 2018-19 school year. To build on the record-seIng educational progress that has earned CPS schools national recognition, the District is investing $3.1 billion in school funding, an increase of more than $60 million compared to the current school year.
Thanks to the parents, educators, and courageous elected officials who worked to pass historic education funding reform passed last August, we have stabilized our finances and are able to make significant investments that will continue to raise the bar for academic excellence.
Here’s what that means for our schools:
First, the funding principals receive for each student in their school will increase by 2.5 percent so that schools can support high quality academic programming and higher teacher salaries.
Second, we are investing in neighborhood schools by expanding access to International Baccalaureate, STEM, Magnet and Classical schools for more than 5,000 students. Specifically:
And finally, for the first time in recent memory, we can guarantee that the funding your principal receives today will not decrease in the fall — even if enrollment declines. This means they can plan with confidence and families can take comfort in knowing who will be teaching their children next year.
While the key investments announced today will accelerate the district’s unprecedented academic success, they only represent the first part of the FY19 budget process. We look forward to releasing a full operating budget in the coming months that not only outlines all of our funding priorities for the coming school year, but also promotes long-term financial stability for the district.
Janice K. Jackson, EdD
Chief Executive Officer
Chicago Public Schools
CPS School Budget Update letter in Spanish and English