Chicago Public Schools approved a $10.2 billion budget for 2025-26, addressing a $734 million deficit by using TIF surplus funds and cutting central office expenses. The board avoided borrowing and deferred a $175 million pension payment, prioritizing classroom funding. This decision faced criticism from the Chicago Teachers Union, who warned of potential midyear cuts if revenue targets are unmet.source https://timesofindia.indiatimes.com/education/news/chicago-public-schools-approve-10-2-billion-budget-choosing-classrooms-over-debt-will-cuts-hurt-support-services/articleshow/123603858.cms