Chicago Public Schools is $27 million over both its regular budget and its special-education contingency budget just months into the school year, adding to financial pressures that could lead to midyear cuts if more funding does not arrive.

The shortfall is compounded by higher-than-expected interest on short-term loans used to make payroll and $19 million less in state funding than CPS anticipated.

CPS rehired 128 teachers and 153 support staff at a cost of $29 million after a school board budget amendment assumed $150 million in additional state aid that had not been committed; those workers could be laid off again as early as Dec. 1 if the money does not come through.

The district has not said how it will cover its other growing costs, but says its finance team is monitoring the budget and identifying potential savings.

CPS is also counting on $285 million from Chicago tax-increment financing districts under Mayor Brandon Johnson’s budget proposal, which the City Council has not approved and some members oppose.

CPS officials, board members and union representatives plan to lobby lawmakers during Illinois’ veto session, though prospects for additional state aid appear weak: Gov. JB Pritzker has repeatedly said it will not happen, and House Speaker Chris Welch will be a lame duck during the session.

The Illinois Federation of Teachers is seeking $670 million in additional education funding, including $400 million for general education and $100 million for state-required services such as transportation; the union says the money would offer relief but not close the statewide funding gap.

Despite overall increases in education spending, Illinois continues to fall short of its school-funding adequacy targets: 714 of roughly 940 districts have moved further behind, while CPS has funding for 70% of its estimated needs, down from 73% last year and 79% the year before.

A state funding package may need to help underfunded districts beyond Chicago to attract enough legislative support, as some lawmakers outside the city are skeptical about providing more money to CPS.