CHICAGO (WLS) -- A review of Chicago Public Schools' finances ordered by Governor Bruce Rauner shows CPS finances are in bad shape, but not bad enough for a state takeover.
The Illinois Board of Education found planned cuts will be CPS is not projected to go bankrupt until the 2019 fiscal year, making a state takeover illegal.
The state board says it will continue to monitor the district's financial situation.
Review of CPS finances rules out state takeover
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