CHICAGO — Chicago Public Schools officials say at least 65 schools will have to make drastic cuts without pension help from legislators.
The Chicago Tribune reports (http://trib.in/1K45W1d ) officials with the nation's third-largest district ratcheted up warnings on Monday, saying schools will have to slash around $200,000 each from their budgets.
The dire projections come as the district has already made budget cuts in the wake of ballooning pension payments. CPS faces more than a $1 billion budget deficit. The district had asked legislators for an extension on a June 30 pension payment, but lawmakers rejected it. That left the district to borrow and cut $200 million, including eliminating roughly 1,400 positions.
Chicago Mayor Rahm Emanuel says lawmakers could help by changing how the district has to fund its teacher pension system.