Following a year-long process to establish a revised charter school funding approach that provides equitable resources in line with district-run schools, Chicago Public Schools released charter school budgets for the 2019-20 school year. The release of charter budgets follows the March 2019 release of district school budgets, which include an additional $55 million for district-run schools to support the largest-ever expansion of academic programming, the expansion of free, full-day Pre-K for four-year-olds in 28 additional communities, and $31 million in equity grants to ensure high-needs schools are able to support the high-quality academic programming all of our students deserve.
Equitable Approach to Charter School Funding
Following extensive discussions, CPS, the Illinois Network of Charter Schools (INCS) and nearly all Chicago charter operators have agreed to a revised funding approach that will return to a Student Based Budgeting (SBB) funding model aligned to current funding rates for district schools. The revised approach is codified in a resolution passed by the Chicago Board of Education at its April 2019 meeting. Through this approach, charter schools will receive SBB funding aligned to the 2.5 percent increase provided to district-run schools, for a total year-over-year funding increase of $19 million, which is in alignment with the funding increase district-run schools received.
Agreement Allows Complete FY19 Charter School Payments to be Made
Prior to the 2018-19 school year, CPS provided charter schools with budgets that aligned to district schools in order to prevent an approximately $38 million charter budget cut that would have occurred without a revised funding approach. As part of this process, charter schools signed a memorandum of understanding noting that the additional $38 million provided to align to district schools could not be maintained unless a funding resolution was reached. In April 2019, CPS provided charter schools their final tuition payment of the year and was forced to exclude the $38 million in supplemental charter funding because a revised funding formula had not yet been reached.
District-Run Schools Receive More Than $55 Million in Additional Funding
In March 2019, CPS announced that it was increasing funding for district-run schools by more than $55 million in 2019-20. The March budget release was the earliest in recent memory and included funding to support the largest-ever expansion of high-quality academic programs at district-run schools, free Pre-K expansion for four-year-olds in 28 communities, and $31 million in equity grant funding for 219 elementary and high schools that need additional support.
