Chicago
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Civic Federation gives CPS budget failing marks
Crain’s)— A local watchdog group is castigating the proposed new Chicago Public Schools budget, warning that the system faces a difficult future unless it reforms the way it spends more than $5 billion in taxpayer money a year.
The report released Monday by the Civic Federation charges that CPS is effectively ignoring a rapidly widening hole in its employee pension plans, “provides almost no specificity” on $1 billion in pending capital expenditures, and suffers from “a lack of long-term perspective.”
To read the 64-page report in PDF form Click Here.
CPS’ proposed fiscal 2007 budget “does not begin to address the many daunting fiscal and programmatic challenges” the system faces, says the report. And even if CPS was making tough decisions, the federation adds, it would be hard to tell because the budget “fails to provide even basic information” about key financial matters. More...
.
Civic Federation gives CPS budget failing marks
Crain’s)— A local watchdog group is castigating the proposed new Chicago Public Schools budget, warning that the system faces a difficult future unless it reforms the way it spends more than $5 billion in taxpayer money a year.
The report released Monday by the Civic Federation charges that CPS is effectively ignoring a rapidly widening hole in its employee pension plans, “provides almost no specificity” on $1 billion in pending capital expenditures, and suffers from “a lack of long-term perspective.”
To read the 64-page report in PDF form Click Here.
CPS’ proposed fiscal 2007 budget “does not begin to address the many daunting fiscal and programmatic challenges” the system faces, says the report. And even if CPS was making tough decisions, the federation adds, it would be hard to tell because the budget “fails to provide even basic information” about key financial matters. More...
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posted by gf at 4:59 AM
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