Two days after the revelation that she faces a federal investigation into her relationship with a company that received a $20 million no-bid contract, embattled CEO Barbara Byrd-Bennett has taken a leave of absence. Board Vice President Jesse Ruiz has been named interim CEO.
“Bankruptcy code exists to help the organization get out of financial trouble,” the governor told an approving crowd at an event organized by The Chicago Public Education Fund. “There’s a reason for the bankruptcy code.”
Advocates for state-funded child care programs were among those who spoke out at an Illinois Senate hearing in Chicago Monday, joining nearly a dozen organizations that sharply criticized Gov. Bruce Rauner’s proposed $6 billion in budget cuts for 2016.
Gov. Bruce Rauner wants to spend more money on public education, but has not laid out plans for how to do so. Meanwhile, state legislators are updating a proposal from last year to overhaul state education funding.
Those who are skeptical of social impact bonds have said that the escrow payments and administrative costs to government make them tough to justify on economic terms. At the end of the day, governments are simply “kicking the can down the road” instead of paying to provide services up front.
More than three years into the mayor’s tenure, advocates for the city’s youngest children say that they’re glad Emanuel has brought increased public attention to the need for expansion of early childhood programs — but say it’s not enough.
The sharp difference in the amount of cash that schools can collect from families through fees contributes to spending disparities, by providing a windfall for schools with middle-class and wealthier students while leaving schools that serve lower-income students out in the financial cold.
A group of investors is betting $17 million that getting more of Chicago’s children into quality early learning programs will generate bigger savings in the long term.
The investors will make a loan to the city so that 2,600 additional children can take part in half-day pre-school programs in the distirct’s much-lauded child-parent centers over the next four years, city officials announced Tuesday.