July 7, 2016
The Civic Federation supports the City Colleges of Chicago’s proposed FY2017 operating budget. The $523.7-million budget is a reasonable plan given the unprecedented uncertainty surrounding funding from the State of Illinois as it enters a second year without enacting a comprehensive balanced state budget.
In FY2017 the District is not planning to increase its property tax levy or tuition rates to make up for a decline in State and local revenues. Instead, City Colleges will again rely on prudent short-term fixes first implemented in FY2016, such as drawing on its cash reserves, delaying capital expenses, not filling vacant positions and a hiring freeze. Although the District has been able to weather financial challenges thus far, the Federation is concerned about the longer-term impact of those actions on the District’s financial position.
The City Colleges fiscal year begins July 1, 2016 and ends June 30, 2017.