Chicago Public Schools FY2024 Proposed Budget: Analysis and Recommendations – Civic Federation

The CPS budget of $9.8 billion for the coming year is stable due to a combination of federal COVID-19 relief funds and local tax sources, including a property tax increase to the maximum allowed under the state tax cap law. However, CPS faces a fiscal cliff of $628 million beginning in FY2026 after federal relief funds are spent.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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