Chicago board of ed approves budget

The Chicago Board of Education unanimously approved a roughly $6 billion dollar budget today that relies on a one-time accounting maneuver to help pay for it.

The board agreed to use two extra months of revenue to balance the budget for 2015 and that could lead to cash flow problems later in the year.

The district is nearly $900 million dollars in debt.

CPS Chief Barbara Byrd-Bennett challenged Springfield to help them.

The school district is also increasing its share of the property tax to the maximum amount.

Residents are expected to pay an average of about $34 dollars next year on a $250,000 dollar home.

 

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