01.27.20
The Civic Federation recently released its annual Effective Property Tax Rates report . The report highlights that in 2017 property tax burdens for many...
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03.30.18
*Note: This blog post was updated on April 13, 2018 with more recent information on the Chicago Public Schools’ short-term borrowing and cash flow position.
Chicago Public Schools (CPS) is heading into the next annual budget cycle for the 2019 fiscal year that begins on July 1, 2018. In...
03.02.17
Chicago Public Schools (CPS) recently adopted its second amended budget of the 2017 fiscal year in an effort to balance its budget and close a $215.2 million hole before its fiscal year ends on June 30, 2017.
Chicago Public Schools adopted a $5.46 billion operating budget in August 2016...
08.26.16
The Chicago Board of Education approved a reinstated dedicated pension levy as part of the Chicago Public Schools (CPS) FY2017 budget on August 24, 2016. The levy will allow the District to bring in $250.0 million in...
08.23.16
The Civic Federation cannot support the Chicago Public Schools proposed $5.46 billion budget because it effectively remains out-of-balance by relying on uncertain funding and one-time measures in...
07.01.16
After a yearlong stalemate, the State of Illinois finally saw a crack in its ongoing budget impasse on the last day of the fiscal year. The General Assembly rushed approval of bills authorizing a full year of preschool through high school education funding, including additional assistance for...
05.13.16
The Chicago Public Schools faces a potentially devastating financial crisis. The elements of this crisis include:
An FY2016 budget that was not balanced as it depended on the vague hope that the State of Illinois will provide $480 million for pension relief, A forthcoming FY2017 budget that...