The Illinois state budget for the 2027 fiscal year includes $9.2 billion in funding for K-12 schools through the evidence-based funding formula. This represents a $350 million increase over last year.
Education Funding Increase
The increase is in line with a promise lawmakers made a decade ago to fully fund all districts through the evidence-based formula by adding $350 million each year for 10 years. However, local education advocates continue to demand more funds for schools, pointing out that Illinois is not on track to meet its original goal of full funding by 2027.
The formula has led to a roughly $2 billion increase in state funding since 2017. Each year, schools are guaranteed to receive at least the same amount of money they received the year before, and higher-need districts are prioritized to get a larger share of the annual increase.
Impact on Schools
Chicago Public Schools is facing a $732 million deficit, and the district has already tightened staffing. Further cuts are likely to ensue, which has intensified demands for lawmakers to put more money into CPS.
Some education initiatives maintained their funding levels or saw financial reductions from the year prior. The state budget delivered for the new Department of Early Childhood, allotting nearly $86 million toward its operations. Early intervention also got a financial bump of $15 million.
Funding for public higher education institutions was kept at a flat 1% increase. This may lead to increased costs for students, forcing them to go out-of-state or not pursue higher education at all.
Original reporting: Block Club Chicago — read the source article.
