Civic Federation rips ‘alarmingly short-sighted’ schools budget
July 19, 2012
Crain's Chicago Business
This article covers the release of the Civic Federation’s Analysis of Chicago Public Schools (CPS) FY2013 proposed budget. The Civic Federation opposes the CPS budget for the first time since 2007, because it drains General Fund reserves and leaves the District with no identifiable plan for addressing its devastating financial reality, which in FY2014 will include a projected $1.0 billion deficit and a $338.2 increase in pension contribution payments.