School Budget Would Raise Property Taxes, Empty Reserve Fund

CHICAGO, IL -- Chicago Public School officials have unveiled their budget plan for next school year, seeking to fill a $665 million deficit with a property tax hike, personnel cuts and some one-time revenue.

WBBM Newsradio Political Editor Craig Dellimore reports the spending plan tops out at about $5.2 billion.

CPS Chief Administrative Officer Tim Cawley said the plan would maintain existing class sizes, and allow principals to decide how to use their additional funds.

“I think the biggest thing about this budget is that it in times of fiscal crisis, with declining revenues two years in a row, we’ve managed to be able to continue to invest in things that we think are going to improve student outcomes,” Cawley said.

It includes a $62 million property tax hike and $144 million in administrative cuts.

The plan also raised some eyebrows, by seeking to drain the district’s entire $432 million in reserve funds.