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CHICAGO — A new report by the Illinois Board of Education finds, Chicago Public sSchools are in their worst financial shape since the board started tracking them.

CPS is once again on the state’s “financial watch” list, because it relies on deficit spending, borrowing or tapping into reserve funds to keep paying its bills.

In fact, three-fifths of Illinois school districts are running deficits, including Lincoln-Way in Frankfort and schools in Summit and Wheeling.