The Chicago Public Schools, facing a $1 billion deficit, has announced more funding cuts, this time $68 million that was to be spent in its classrooms.
The cut was included in a $5.6 billion budget introduced Wednesday by district officials. The budget includes an increase of $405 million in pension payments the district must make because pension reform failed in the Illinois legislature.
CPS Chief Administrative Officer Tim Cawley says the district's deficit has forced it to tap into one-time revenue and use $700 million in reserves.
Last week, the district dismissed about 2,100 teachers and support staff. That is in addition to the approximately 850 teachers and support staff laid off in June.
Cawley noted the district is spending $1,000 per pupil just to cover the increased pension obligation.Copyright © 2014 Paddock Publications, Inc. All rights reserved.