August 23, 2017
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The Civic Federation opposes the Chicago Public Schools’ proposed $5.7 billion operating budget and total budget of $6.5 billion because it does not do enough to divert CPS from its dismal fiscal trajectory. Amid budget, liquidity, debt and pension funding crises, the FY2018 budget relies on nearly $570 million in still uncertain funding and on costly short- and long-term borrowing for operations. Further, the District does not detail adequate back-up or long-term plans.
The Federation joins all Illinoisans in the hope that a recently announced agreement in principle on school funding reform will finally put to rest the last, lingering piece of Illinois’ two-year budget stalemate. However, details of the agreement have not been publicly released, and the state’s impasse has demonstrated that even agreed-to deals can fail to materialize.