The Civic Federation said dwindling enrollment, rising costs, long-term pension liabilities, and infrastructure needs have left the district on "the financial brink."

A new report warned of a dire financial outlook for CPS with mounting budget deficits if significant action isn't taken.

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

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.

The budget watchdog group said CPS' finances are in such bad shape that the State of Illinois may need to take control of the school district.