Pedro Martinez, right, CEO of Chicago Public Schools, listens to speakers during a Chicago Board of Education meeting on Feb. 22, 2024, in Chicago. Chicago Public Schools recently released its preliminary school budgets for the upcoming school year. This is extraordinary due to the fact that theThe biggest change in this new formula is that it will no longer fund schools solely based on student enrollment numbers but rather focus on a need-based, equity formula.
The budget formula has multiple components, including foundational funds, discretionary funds and other centrally funded positions. The foundational category includes every school receiving one principal, one assistant principal, one clerk, a counselor and a calculated number of teaching and staff positions.
School budgets were released only internally, and it is important for all the information to be released to the public in a transparent and timely manner so that the proper amount of equity examination is possible. School budget proposals would be easier for the public to analyze if they included more scaffolds and historical materials, as well as specific information surrounding the Opportunity Index, which so heavily determines how much funds a school either gains or loses.
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