Chicago finds an extra $70 million for school budgets

Thursday, April 10, 2014

While Chicago Public Schools officials continue to say there will be a budget crisis until pension reform is achieved, the district Wednesday said cost-cutting and a one-time accounting maneuver will provide additional $70 million for school-based budgets in the coming year.

Individual school budgets were slashed at the beginning of this school year because of declining enrollment and a move to per-student funding, which fell on top of the district's ongoing budget woes. Those cuts triggered protests from parents and led some school communities to raise funds on their own for their schools.

District officials say more money will be available next year in part through an accounting adjustment that would make two additional months of property tax revenue available for the 2014-15 budget.

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