CPS ordered to turn over financial information to state

CHICAGO (WLS) -- There's a new move to take over Chicago Public Schools by the state.

CPS confirms it's being asked to turn over reams of financial information - including details on cash flow and big contracts - to the state by the first week of March.

The request was made in a letter sent Thursday to the head of CPS and the school board president.

Two weeks ago, Governor Bruce Rauner ordered a review of the district's books after calling for a state takeover of the system.

CPS said in a statement: "The last time Governor Rauner offered his financial advice for Chicago Public Schools, Chicago taxpayers were forced to pay even more for our bonds, and we cringe at what his latest venture could cost our children."