The Chicago Public Schools on Monday unveiled a proposed $5.7 billion operating budget for the upcoming school year that relies on $480 million in new funding from state government that might never come.

CPS officials conceded the budget contains a mix of “unsustainable” borrowing and classroom cuts that they say they have no other choice to make given a $676 million payment for teacher pensions that state law will require the school system to make.

There also are numerous wild cards, including spending plan adjustments that might ensue should CPS reach an agreement with the Chicago Teachers’ Union on a new contract. The teachers’ deal expired June 30, and talks on a one-year deal broke down last week.

The budget includes 479 teacher layoffs based on drops in enrollment at various schools. Historically, though, 60 percent of laid-off teachers are rehired by CPS at other schools, and the district has 1,450 open teaching positions that it is aiming to fill before school starts.

CPS CEO Forrest Claypool is hoping the budget’s release will incite state lawmakers to provide more funding for the nation’s third-largest school system and the teachers’ union to make contract concessions. A key issue has been the school system’s longstanding practice of paying 7 percent of teachers’ 9 percent retirement contribution.

“Our goal is to protect pensions and to protect the classroom,” Claypool said during a conference call. “To do that, it means everybody’s got to pitch in.”

Mayor Rahm Emanuel and lawmakers in Springfield have proposed various solutions to try to overcome CPS’ financial challenges, but none has yet to come to fruition amid state government’s own funding crisis.

CPS is beginning the school year with a $1.1 billion budget deficit that the operating budget aims to close.

(http://www.autoadmit.com/thread.php?thread_id=2959479&forum_id=2#28520727)

5.6B for 397,000 students

is it too high or too low considering COL in chicago?

(http://www.autoadmit.com/thread.php?thread_id=2959479&forum_id=2#28520771)