Chicago Public Schools (CPS) faces a $734 million budget deficit for the 2025-26 academic year, with classes set to begin on August 18. Ahead of presenting a balanced budget proposal to the school board on August 13, CPS officials met with Mayor Brandon Johnson's office. The district's plan to close the shortfall includes laying off crossing guards, custodians, cafeteria workers, and central office staff, refinancing debt, spending down reserve funds, and postponing a $175 million pension payment. Additionally, CPS intends to implement non-classroom cuts and seek additional revenue streams. The Safe Passage program budget has been reduced from $22 million last year to $16.3 million this year. Despite the proposal, 11 of 21 school board members, aligned with Mayor Johnson, have expressed opposition, demanding the inclusion of the $175 million pension payment and a loan in the budget. The board plans to vote on the budget on August 28, with the current proposal considered a draft subject to change. Community leaders have urged CPS to avoid further cuts, noting the district is already "cut to the bone."