Chicago Tribune
This article discusses Chicago Public Schools’ announcement that an additional $70 million for school-based budgets will be available in FY2015 because the District plans to extend its revenue recognition period to August 29—two months into FY2016. The Civic Federation said this financial maneuver of counting the future year’s revenue toward this year’s budget is risky. The Federation has continually recommended CPS develop a long-term financial plan to stabilize its budget.