Disclaimer: The information contained here is for general informational purposes and no person should make any investment decision based solely on the information contained herein.
Chicago Public Schools issues bonds to finance the construction, renovation and expansion of schools. Proceeds from bonds support capital improvements—not the day-to-day operating expenses of the school district.
Bonds issued by CPS are debt obligations. That is, when you purchase a CPS bond, you are lending money to the school district in exchange for the payment of a certain level of interest and the return of the principal amount on a specific date. CPS does not sell its bonds directly to the public; to buy CPS bonds, investors should contact their registered broker dealer or financial advisor.
Investors and prospective investors in CPS bonds typically find the following information helpful in deciding whether to invest in CPS bonds:
- Official statements describe the nature and type of bonds issued, how the bonds will be repaid and over what time period, and offers information on the school district and its management. Before purchasing a CPS bond, investors should read the Official Statement for that specific bond issue.
- Audited financial statements, available in the district's Comprehensive Annual Financial Report, provide a snapshot of the overall financial health of the school district, including assets, liabilities, revenues and expenditures.
- The proposed budget for fiscal year 2014 describes the district's financial and operational priorities, expected revenues and revenue sources, and the projected expenditures for the current fiscal year.
- Financial policies describe the district's approach to managing debt, investments and fund balance.
- Credit ratings from independent rating agencies serve as an indicator of an organization's financial stability—as well as the safety and security of the debt sold by that organization.
- The board meeting schedule provides the time and location of meetings of the Board of Education, which approves all bond issues.
For more information on CPS bonds, contact firstname.lastname@example.org or call the CPS Treasury team at 773-553-2790.
To view some of the documents provided on this page, you need Acrobat Reader. If you do not have this program, click download Adobe Acrobat Reader nowand follow the instructions.