The Chicago Sun-Times reports that the Chicago Board of Education approved borrowing nearly $1 billion for construction costs and to refinance high-interest debt.
Recently in School District Finances Category
October 27, 2016
August 25, 2016
The Chicago school district is relying on property tax hikes and $215 million in pledged financial assistance from the state.
August 19, 2016
The Detroit schools' lawyers said the protests were really teacher strikes, which are technically illegal under state law, and sought an injunction to immediately halt them.
July 25, 2016
Covering the cost of legal bills is just the latest helping hand the state has provided to the cash-strapped school system.
June 22, 2016
The package of bills will help Detroit schools pay off $467 million in operating debt and provide $150 million in start-up funding for a new debt-free district.
May 05, 2016
The Chicago Teachers' Union has proposed what it calls a "recovery package," which it says could raise about $502 million for the financially-beleaguered school district.
May 04, 2016
Coordinated teacher sickouts had closed 94 of the district's 97 schools Monday and Tuesday, leaving tens of thousands of students out of class.
May 03, 2016
The union protests comes at a time when state lawmakers are weighing a $715 million aid package to save the district from financial collapse.
May 02, 2016
The protest comes in response to an announcement that the district will run out of money at the end of June and may not be able to pay teachers for work they've already done.
April 18, 2016
After the Chicago Teachers' Union rejected a fact-finder's recommendations on a new contract, the school district has called for the teachers' union to drop the strike talk and return to the bargaining table.