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Chicago school system delays budget, seeks $1.13 billion of notes Posted: 22 Jun 2015 02:51 PM PDT By Karen Pierog CHICAGO (Reuters) - The lack of a final Illinois budget is delaying a fiscal 2016 spending plan for the Chicago Public Schools (CPS), a spokesman for the district said on Monday. Bill McCaffrey said CPS, which begins its new fiscal year on July 1, is "waiting for clarity on state education (funding) levels before producing our budget." The Democratic-controlled Illinois Legislature and Republican Governor Bruce Rauner remain at odds over a state spending plan for fiscal 2016, which also starts next week. In the meantime, the nation's third-largest public school system will ask its board of education on Wednesday to approve $1.13 billion of tax anticipation warrants and notes for cash-flow needs in the current and next fiscal year.

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