Warning issued over 'risky' Chicago Public Schools budget
A government finance watchdog group urged the Chicago Board of Education to reject a "financially risky" proposed fiscal 2016 budget because it is out of balance and does not provide a road map for solving the school system's fiscal crisis. The Chicago-based Civic Federation said the $5.7 billion operating budget facing a board vote tackles a $1.1 billion deficit with $480 million in yet-to-be approved state of Illinois funding and $200 million from debt restructuring.
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