Chicago Board of Education passes $6.8 billion budget
BY LAUREN FITZPATRICK Education Reporter July 23, 2014 4:08PM
Chicago Public School Budget and Grants Officer Ginger Ostro speaks about the yearly budget, at the CPS Board meeting on Wednesday, July 23, 2014. | Chandler West/For Sun-Times Media
Updated: August 25, 2014 5:42PM
Chicago homeowners can expect their property taxes to go up after the Board of Education on Wednesday approved a $6.8 billion budget for Chicago Public Schools that critics say uses another accounting gimmick to provide a short-term solution.
The $5.76 billion operating budget for CPS’ 400,000 students in 2015 banks hard on pension solutions from Springfield and depends on 14 months of property tax revenue to pay for 12 months of spending.