State budget passed but fate of CPS still unsettled

CHICAGO — Lawmakers could also be patting themselves on the again now that Illinois has a finances for the primary time in three years – however the destiny of Illinois faculties continues to be unsettled.

The brand new price range payments do embrace a bit extra money for faculties nevertheless it’s not almost sufficient money for Chicago Public Faculties to stability its books.

“Can we simply get an answer that solves the issue?” Karen Lewis, CTU president, stated.

The measures handed Thursday in Springfield embrace about $350 million extra for college spending however they don’t embrace a brand new formulation for methods to dole that cash out to districts.

Chicago Public Faculties are spending $70,000 a day simply to pay curiosity on loans it already took out.

Some superintendents say they gained’t even be capable of make payroll previous the summer time with no new infusion of money that might be allotted by a brand new faculty funding mannequin.

Senate Invoice 1 spells out a so-referred to as proof based mostly spending mannequin for faculties. It has been handed by each Homes. However the Senate hasn’t despatched it to the governor but as a result of they’re afraid he gained’t signal it.

Rauner has vowed to veto the plan saying it’s principally a CPS bailout.

Republicans say Chicago has created its personal mess and at no time was the dialogue about faculty funding reform designed to be an answer for the pension disaster.

“We’d like somebody who sits on the desk and says look we’re making an attempt to repair the formulation so we will distribute cash to all of our faculties – lots of that are in worst monetary straits than Chicago,” State Sen. Jason Barickman stated.

Lawmakers stated the trail ahead is unclear. Faculty is meant to start out in two months and on Thursday Moody’s threatened to additional downgrade CPS’ already poor credit standing.

Due to CPS’ troubles, Moody’s simply introduced it’s going to additionally assessment the town’s bond score. On Friday, the mayor vowed CPS will begin on time – however he didn’t say how they’d pay for it.

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