CHICAGO (CBS) -- The budget watchdog group the Civic Federation warned Monday that the Chicago Public Schools' finances are in such bad shape that the State of Illinois may need to take control of the ...

A new report being released today by the government watchdog Civic Federation puts Chicago Public School finances under the microscope as the district nears a fateful turning point.

There were hopeful notes at the swearing-in of 20 new board members, half of them elected. Now the hard work begins.

As CPS and its teachers union disagree about how much the district can afford, a new report warns of dire fiscal outlook.

The borrowing comes as the government watchdog Civic Federation describes the junk-rated school district as being at a ...

A Civic Federation report calls for budget cuts and new revenue sources. The group floats a state financial takeover as a “worst-case scenario” if the situation doesn’t improve.

Budget watchdog group the Civic Federation ... the resources are there. Chicago is not broke.” The new board’s immediate challenges are well-known: Chicago Public Schools has a $9.9 billion ...

CHICAGO (WLS) -- A new report paints a dire financial picture at Chicago Public Schools. The Civic Federation says CPS is in such bad financial shape, that the state may need to take over control.

The current seven-person Chicago school board, with members all selected by Mayor Brandon Johnson, will switch Wednesday to ...

according to the Civic Federation. The budget watchdog group released a comprehensive report detailing the dire financial situation Chicago Public Schools faces, especially next year. "The amount ...

The Chicago Teachers Union and Chicago Public Schools still have not reached a contract deal. Meanwhile, the CPS Board of Education’s publicly elected members will be sworn in this week, and the ...

The Chicago Board of Education tapped $400 million from its short-term revolving credit agreements with Bank of America and ...