CHICAGO – State Senator Sara Feigenholtz announced that Chicago Public Schools is set to receive more than $23.3 million through the evidence-based funding formula to help address the financial challenges of recent years.
“Over the last five years, Illinois has stepped up its share of education funding, providing certainty and relief to local school districts,” said Feigenholtz (D-Chicago). “Continuing these investments will benefit hundreds of thousands of CPS students and the teachers and school staff they rely on.”
The funding comes from the 2017 Illinois Senate Democrat-backed evidence-based funding formula — an overhaul of the way the state funds K-12 education. The law made school funding more equitable by calculating the needs of individual school districts and basing its state revenue on those needs. The formula takes into account a district’s total enrollment, poverty rate and number of special education or English language learners, among other factors.
This year, a combined $23,357,289 will go to Chicago School District 299 — the district that serves CPS — benefitting hundreds of schools across the city and in the 6th Senate District.
For more information on the FY 24 evidence-based funding distribution, visit the Illinois State Board of Education’s website.