What is the annual revenue of Chicago public schools?

Table 2 illustrates how CPS revenues are distributed into operating, debt service, and capital funds. Although the total revenues are $6.9 billion in FY2020, only $6.1 billion are available for operations.

What is the revenue of Chicago Public Schools?

Finances at Chicago Public Schools

Chicago Public Schools spends $17,953 per student each year. It has an annual revenue of $6,933,320,000.

How much money does Chicago Public Schools have?

Chicago Public Schools' 2024 budget is $9.4 billion, but could grow - Chalkbeat.

Are Chicago Public Schools funded by property taxes?

Each year, CPS levies property taxes to fund the operations of the public school system. The amount that CPS requests, through the Board of Education, cannot reflect an increase greater than the change in the Consumer Price Index (CPI) or 5 percent.

What is the budget for Chicago Public Schools 2023?

This budget, which totals $9.4 billion, includes an increase of $243 million in school-based funding — for a total of more than $450 million in new funding for schools over the past two years.

Why Chicago's Public School System Is Broken [Inside Chicago, Part 2]

Who funds Chicago public schools?

As the nation's third largest school district and the largest employer in Chicago outside of the U.S. Government, CPS is a dynamic organization serving a dynamic city. WHO PROVIDES OUR FUNDING? Chicago residents are the source of nearly all of our funding.

How much does Chicago spend per student on public schools?

The new state data indicates CPS is now getting more than $17,000 per student from the state and is considered 80% of the way to “adequately funded.” A district spokesperson did not say how the change might impact the already-approved $9.4 billion budget.

What are the sources of revenue in Chicago?

Local taxes include the Municipal Public Utility Tax, Chicago Sales Tax, Transactional Taxes, Transportation Taxes, Recreation Taxes, and Business Taxes. The total estimated amount for 2022 is $1,767,451,000.

Is the Chicago School private or public?

The Chicago School is a private university with its main campus in Chicago, Illinois. Established in 1979, The Chicago School was primarily focused on the professional application of psychology. It currently has about 6,000 students across all campuses and online.

Is Chicago Public Schools a government organization?

As a unit of local government, CPS' sources of revenue are categorized by the level of government (local, state, and federal) that collects, distributes, or grants resources to the District.

What is the Chicago Public Schools scandal?

Chicago Board of Education Inspector General Will Fletcher reported 470 sexual complaints against Chicago Public School employees from students in 2022. The report details students being abused, groped, groomed, assaulted and threatened by school officials.

Where do Chicago Public Schools rank nationally?

The top-ranked CPS high schools include: Walter Payton College Preparatory High School: 1st in Illinois and 9th nationally. Northside College Preparatory High School: 2nd in Illinois and 23rd nationally. Lane Technical College Preparatory High School: 3rd in Illinois and 69th nationally.

What is the richest public school system in the United States?

Two districts tie for the title of richest school district in the country, and they both lie in New York. The Scarsdale Union Free School District is just south of White Plains, New York, while the Cold Spring Harbor Central School District is on Long Island.

What is the biggest Chicago public school?

Lane is one of the oldest schools in the city and has an enrollment of over four thousand students, making it the largest high school in Chicago. Lane is a selective-enrollment-based school in which students must take a test and pass a certain benchmark in order to be offered admission.

What is the largest source of revenue for public schools?

Public schools are primarily funded through property tax dollars and other state and local taxes, but the way tax dollars travel to schools can be confusing.

Who controls Chicago public schools?

The Chicago Board of Education, founded in 1840, is responsible for the governance, organizational and financial oversight of Chicago Public Schools (CPS), the third largest school district in the United States of America.

How many Chicago public school students are homeless?

The numbers vary by school, but CPS reports that, as of December 2022, there were 12,933 students identified as homeless through the STLS program. The Chicago Coalition for the homeless says those numbers are much higher now.

Are Chicago public schools any good?

Chicago Public Schools is an above average, public school district located in CHICAGO, IL. It has 329,836 students in grades PK, K-12 with a student-teacher ratio of 15 to 1.

Is the Chicago School a for profit school?

The Chicago School has been a leading nonprofit university for more than 40 years.

What is the main money making business in Chicago?

Chicago and its suburbs is home to 35 Fortune 500 companies and is a transportation and distribution center. Manufacturing, printing, publishing, insurance, transportation, financial trading and services, and food processing also play major roles in the city's economy.

What was Chicago's biggest industry?

Food Innovation & Manufacturing

Chicago is the nation's food innovation and manufacturing capital. The city's proximity to the nation's most productive farmland and an extensive transportation network helped grow the historic industry.

What is the budget deficit for Chicago public schools?

The District is expecting to see a $391 million budget shortfall next fiscal year once the remaining $300 million of federal COVID relief dollars are spent. The District has received a total of $2.8 billion in COVID relief dollars since FY2021 and used $1.82 billion, or 65% of the funds through FY2023.

How much does Chicago pay per student?

CPS plans to spend $9.4 billion in the 2023 school year on 321,000 students. That comes out to $29,307 per student – a new record. Just four years ago the district spent $7.5 billion on an enrollment that was 40,000 students higher. Then, the total taxpayer cost was just under $21,000 per student.