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Chicago Public Schools’ fiscal prospects hinge on state and feds

AUGUST 19, 2020 | by Yvette Shields | THE BOND BUYER

By Yvette Shields, includes “The Chicago Board of Education votes next week on an $8.4 billion budget as the district tries to navigate the COVID-19 pandemic’s toll on academics and local, state, and federal funding. The spending plan for the fiscal year that began July 1 is up from $7.84 billion in fiscal 2020. The junk-rated district will see some local-sourced revenue fall and the state did not fund a scheduled annual increase in aid, so the CPS plan banks on the federal government coming through with at least $343 million in a relief package that went nowhere in the GOP-controlled Senate.”
 

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