CPS Taps Reserve Funds to Balance Budget | NBC Chicago

CPS Taps Reserve Funds to Balance Budget

Many teachers and staff will lose their jobs this year

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    NEWSLETTERS

    CPS Taps Reserve Funds to Balance Budget
    CPS will vote on a list of proposed school closures today.

    Chicago Public School’s chief Ron Huberman managed to turn in a balanced budget despite an estimated $370 million hole. 

    The path wasn’t comfortable.
    Huberman was forced to lay off nearly 1,200 school workers, increase class sizes from 31- to 33-students-per-room and completely drain $190 million in reserve funds, the Sun-Times reports.
    Huberman said it was necessary to dip into the reserve funds because the state owes CPS roughly $236 million.
    Other cuts include: 
    • Imposing six furlough days and pay freezes on principals and assistant principals.
    • Eliminating 200 school buses.
    • Trimming bilingual programs.
    • Carving $16 million from supplemental magnet school programs.
    • Reducing supplemental security from schools by about $2 million. 
    The proclamation of a balanced budget comes on the same day that nearly 100,000 Chicago Public School students begin attending year-round classes.