CPS budgets hold firm, ask principals to 'do more with less'

A broke Chicago Public Schools touted Wednesday that it will hold per-pupil funding to the same levels as the end of last year, plans no teacher layoffs, and will present a balanced budget in August without borrowing.

That's decently good news from the district that threatened a few weeks ago it might not open at all in September. But with a $300 million gap remaining, it also all hinges on risky assumptions that officials will finally ink a cost-savings deal with the Chicago Teachers Union and collect $205 million from the state that's still contingent on pension reform.

If those pieces fall into place, CPS will allocate $4,087 in base per-pupil funding, about 7 percent lower than what was allocated in September 2014, but equal to what students received after unusual midyear cuts in February.

Those cuts were deemed necessary after CEO Forrest Claypool recommended a budget a year ago that depended on a phantom $480 million from Springfield, help that didn't come in time to stave off reductions and layoffs.

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