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August 17, 2016
Chicago Tribune

Chicago Public Schools CEO Forest Claypool expressed optimisim last week by introducing a 5.4 billion dollar operating budget that will align forecasted expensditures with anticipated revenue. Public hearings on the prospal go underway this week before the August 24th school board vote. However, it is still clear that the system's finances are in trouble. Brian Battle, a director at the Performance Trust financial firm who has studied CPS finances states, "They're operating in crisis mode. They're managing the CPS budget month to month, quarter to quarter, in six-month increments. Where's the five-year plan? I have no doubt they can make it through, engineer their way through the next five years, but that's still not a five-year financial plan."

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