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Lack of pension fix jeopardizes Chicago school finances

Posted on August 26, 2013

Reuters

This article covers the release of the Civic Federation’s FY2014 Chicago Public Schools Budget Analysis. The Civic Federation did not support the budget, which completely draws down unrestricted reserve funds and uses some restricted reserves to close a $977 million budget deficit. The Federation said the District’s long-term fiscal health remains in jeopardy absent pension reform.