July 2, 2018
The Civic Federation supports the City Colleges of Chicago’s proposed FY2019 operating budget. The $436.1 million budget is a prudent plan to continue to stabilize the District’s finances following the second full year of State funding since fiscal year 2015.
As detailed in the report, the District will modestly increase its property tax levy and reinstitute a per-credit hour based tuition structure for part-time students while maintaining a flat-rate tuition structure for full-time students. To secure its financial position, City Colleges will again rely on cost containment strategies. The budget also follows through on prudent measures to reduce the District’s real estate footprint and stabilize its fund balance reserves by completing the sale of its Loop headquarters.
The City Colleges fiscal year begins July 1, 2018 and ends June 30, 2019.