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CTBA Budget Director Interviewed by WGN-Channel 9

CTBA Budget Director Bobby Otter was interviewed this afternoon by WGN-Channel 9 news regarding the Chicago Public School's FY 2016 budget and structural deficit.

Bobby said, ""CPS budget issues are driven by a lack of funding from the state and the limits, due to PTELL (Property Tax Extension Limitation Law), to how much the district can raise property taxes annually. The other major driver that has created CPS' structural deficit is its decision to underfund the Chicago Teacher's Pension Fund in the late '90s and early 2000s. This decision has created a large unfunded liability. If CPS were to move to re-amortize the pension debt, it would make the district's pension payments more manageable in future years."

This segment will air on the 5:00 PM broadcast.