Proposed Chicago school budget would tap $432 million in reserve funds

July 6, 2012
Even after identifying $144 million in savings, school system must close huge deficit

From The Chicago Tribune: The Chicago Public Schools proposed $5.73 billion budget for 2012-2013 calls for a 2 percent raise for teachers — the initial offer made to the Chicago Teachers Union in ongoing contract talks —while also draining the district’s cash reserves as officials struggle to cover a $665 million deficit.

EARLIER...from The Chicago Tribune: The Chicago Public school system says it has found ways to save nearly $144 million, a third of that through a more aggressive purchasing strategy and technology upgrades. The district said a procurement officer who started in March and came from the private sector led efforts to renegotiate contracts and work with other city agencies to secure lower prices. Also instituted were cost-cutting practices like having milk delivered every other day, instead of daily, and having schools cleaned at night rather than during the day.

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