Despite the uncertainty, CPS has time. The $215 million was earmarked to pay part of the district’s contribution to the teachers pension fund. That payment is due on June 30.
CPS spokesman Michael Passman said the Chicago Board of Education plans to vote Wednesday on an amended $5.5 billion operating budget. The vote is required to account for the increased costs of a new teacher’s contract. Mayor Rahm Emanuel is freeing up money from special taxing district’s called TIFs to pay those costs. In addition, the board will vote on a supplemental capital budget.
While there is some wiggle room, the loss of this $215 million could hurt classrooms more than cuts in the past. Over the past few years the district has provided schools less money but instructed principals to keep cuts away from the classrooms. Principals have, to some degree, found ways to limit staff layoffs but it is increasingly difficult to see how schools can keep cuts from classrooms.