Chicago school officials said they've come up with a plan to pay for the first year of a new teacher contract.
Officials said salary increases will amount to $103 million in the first year of the three-year contract ratified this week by Chicago Teachers Union.
The plan released on Friday doesn't include classroom cuts. Instead, savings and revenue identified to fund the first year of the contract, according to the district, include:
- Operations: Reduce lunchroom costs and general fund subsidy ($11 million); Achieve additional procurement savings ($10 million)
- Administration: Delay or cancel filling vacant, non-teaching positions ($8 million); Additional administrative reductions, targeting savings from printer consolidation, limiting equipment purchases, subscriptions and professional memberships ($4 million)
- Financial: Capitalize interest on FY12 bond sale ($13 million); Sell surplus properties ($15 million); Debt restructuring ($42 million).
The contract includes a new evaluation system and an agreement that some teachers can keep their jobs if schools close. It also includes an agreement on implementing a longer school day.
Teachers went on strike Sept. 10, idling about 350,000 students for seven days.