August 25, 2009
The Civic Federation supports the $6.9 billion Chicago Public Schools FY2010 proposed budget. The District employed reasonable measures to balance its budget in light of a $473 million deficit, including cuts to personnel and a proposed drawing down of reserves. The Federation also supports the District’s modest 1.5% increase to its property tax levy. Going forward, the Federation has concerns about the District’s growing annual pension liabilities, which is a principle driver of its projected $913 million deficit for FY2011.