The City Colleges of Chicago has proposed a $457.5 million operating budget for fiscal 2011 and a $139 million capital budget to finance infrastructure and technology improvements.
The operating budget is up $40 million from fiscal 2010. The additional money reflects expected increases of $19 million in federal aid, $10 million in state funds for adult education, and $11 million from tuition revenue due to higher enrollment.
The budget recommends a $3 million property-tax levy abatement, cuts 10% of non-instructional positions, and includes plans for additional operating cuts.
City Colleges officials joined with Chicago Mayor Richard Daley to unveil the budget earlier this month.
The budget is the first from new leaders appointed by Daley. They include chancellor Cheryl Hyman and board chairman Gery Chico, who previously led the Chicago Board of Education.
