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Accounting trick means more money for CPS

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The Chicago Public School system has found another $70 million to pump into local school budgets in the coming year.

A one-time accounting change and some cost reduction will free up the extra money.

But the Civic Federation warns, the accounting adjustment — essentially borrowing from next year’s property tax revenues — is risky.

Schools had to cut their budgets early this year because of falling enrollment and general funding shortages.

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