CHICAGO – Senator Natalie Toro announced that Chicago Public Schools will receive $23 million in funding to support local schools with recent financial challenges.
“Students throughout Illinois deserve equal opportunity and access to education,” said Toro (D-Chicago). As a former educator, I recognize the importance of investing in strong educational pathways because it ensures successful futures for our young leaders at every milestone. We’re beginning to see vital developments in our classrooms because of the evidence-based funding formula, and I am committed to seeing every student benefit from this line of support.”
Toro was recently selected to serve as the new state senator for the 20th District. Previously, she served the community as a kindergarten and third grade teacher for nearly 10 years in the Chicago Public Schools system.
The funding comes from the 2017 Illinois Senate Democrat-backed evidence-based funding formula — an overhaul of the way the state funds K-12 education. The law made school funding more equitable by calculating the needs of individual school districts and basing its state revenue on those needs. The formula takes into account a district’s total enrollment, poverty rate and number of special education or English language learners, among other factors.
This year, a combined $23,357,289 will go to Chicago School District 299 — the district that serves CPS — benefitting hundreds of schools across the city and in the 20th Senate District.
The Fiscal Year 2024 budget invested $350 million in new funding into students’ success through the evidence-based funding model.
For more information on the FY 24 evidence-based funding distribution, visit the Illinois State Board of Education’s website.
