Takeaways by Bloomberg AI
- A delay in local property-tax bills is exacerbating Chicago Public Schools’ cash crunch, leading the district to rely more on short-term borrowing.
- The district plans to seek authorization to issue $1.25 billion in tax-anticipation notes to handle expenses, according to budget documents.
- The district’s treasurer, Wally Stock, said the district may need to use the notes to handle payroll 80% of the time this fiscal year, and that it has “no wiggle room” and “no rainy-day funds”.
Bloomberg CityLab
By Shruti Singh
August 18, 2025