Chicago school board seeks outside experts for budget

Chicago school board members are seeking outside experts to help address the district's budget issues during a hearing. This marks a shift from the usual reliance on internal economic advisers. The board plans to invite specialists for a second hearing. The district's budget for the 2025-26 school year is facing a $240 million gap, with only $139 million available from tax increment financing. The board must amend the budget and hold public hearings before voting on the proposed changes. Discussions include options like issuing bonds or refinancing debt, but concerns about financial responsibility have been raised. The board is awaiting a report from an external financial firm to guide their decisions on resource allocation.