CPS took out $1.6 billion in those short-term loans for fiscal 2026 operating costs such as payroll and basic expenses, plus a $246 million loan to support the Chicago Teachers’ Pension Fund. That borrowing is expected to cost $34 million in interest, according to a March report to the Chicago Board of Education.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.