The process for allocating tax dollars to CPS needs to be reevaluated to ensure proper funding for operational procedures necessary for improving the quality of public education.
Please see response to #17
As a Certified Public Accountant I would have an independent forensic audit to evaluate our current budget including our revenue systems. I believe the TIF structure is flawed because it set up to divert existing resources-not provide additional resources-to the citys most disinvested communities. Ultimately I believe that taxes need to restructured to meet the needs of residentsparticularly schools, public safety and sevices and additional economic development funds shouldbe dedicated project by project by the city.
First, I would like to see TIF districts used for their original intention – to spur development in blighted communities that would not happen “but for” the special designation and its attendant investment. Chicago must stop diverting these funds from the general budget – and its oversight – into what is essentially a slush fund that has no public oversight and has been used to invest significantly in communities – like the South and West Loop – that are prosperous enough without public subsidies, and wealthy private corporations that would locate and expand here anyway, like the $14 million in subsidies to CNA, $24 million to MillerCoors, and $31 million to UAL. Should we return the use of TIF districts to their real purpose, much less money would be diverted from the CPS and other taxing bodies. Further, with real resident planning and oversight of TIF Districts, Chicagoans will be more agreeable to using these funds in this way. As I look to utilize unobligated and unprogrammed TIF dollars to balance the city budget, as suggested above, such use of surplus dollars will trigger the release of additional surplus dollars to the public schools and other taxing bodies, according to formula. We also need to enforce recapture provisions in subsidy agreements to require a company to return all or part of the value of a subsidy if the company doesn’t meet the goals they agreed to (“clawbacks”).
Naming Rights throughout the school system.
See web site