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(Crain’s) — Chicago Public Schools‘ proposal to balance its spending plan by draining a budget stabilization fund is a “risky move” that threatens daily operations, the Civic Federation warns.

In its 74-page analysis, the fiscal watchdog group describes CPS’ $6.5-billion proposed budget for fiscal 2011 — which features a 5.9% spending cut for the looming school year — as an “adequate plan” but said it fails to address an ongoing structural deficit by relying too much on federal stimulus money and other one-time revenue sources.

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