"Simply put, CPS does not have a cash reserve – not even a single dollar. This means that when expenses come in before revenues – which they always do due to the property tax and tax increment financing (TIF) surplus timelines – the District has no available reserves to tide it over. Instead, it must borrow money to pay its bills, and the interest on that borrowing is an additional expense the District must take on."
"Simply put, CPS does not have a cash reserve – not even a single dollar. This means that when expenses come in before revenues – which they always do due to the property tax and tax increment financing (TIF) surplus timelines – the District has no available reserves to tide it over. Instead, it must borrow money to pay its bills, and the interest on that borrowing is an additional expense the District must take on."
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The Railroader
7 days ago
Have the Day Drinkers of the Civic Federation noticed the CPS high school with few students costing $93k each?
This is grand-scale credit card mentality in action. Ultimately, bankruptcy is all that’s left. When will the rating agencies start to tell the truth about toxic public debt?
Reply to MsT
It’s past credit card mentality and now in payday loan territory.
A dozen kids average in Chicago high school classes how about cutting 1/2 the high school teachers? We had at least 30 in our high school classes. There’s some big money for the reserve
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