CHICAGO (AP) — The Chicago Board of Education has approved what officials say is a “stop-gap budget” that doesn’t solve the school district’s long-term financial problems.
The Civic Federation, a watchdog group, criticized the $5.8 billion budget Wednesday as “gimmick-based” for using a one-time accounting fix to balance the year’s budget.
Chicago Public Schools CEO Barbara Byrd-Bennett admitted the budget is not sustainable beyond next year, adding new revenue and help from the state is the only way to end its financial problems. She said pension reform is particularly needed.
CPS officials say the budget transfers $72 million from traditional schools to charter schools. In addition, some neighborhood schools are getting fewer dollars because of declines in enrollment. District officials say the budget also cuts spending at the central office.
