The Chicago Board of Education approved Chicago Public Schools’ 2025-26 budget without taking out a $200 million high-interest loan, despite Mayor Brandon Johnson’s push to include borrowing as an option to close the district’s massive funding gap.

The 12-7 vote, with one abstention, followed months of financial warnings from top CPS officials and marked a notable shift in internal board dynamics. The decision came just days after Johnson appointed Ángel Vélez to the hybrid, partly elected, partly appointed board, hypothetically securing the simple majority needed to pass a budget with borrowing.

When district leadership presented a $10.25 billion budget to the board earlier this month, multiple board members — supporters of the mayor — dismissed it. The district’s budget did not include

See Full Page