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Chicago school district deficit projected to be $720 million in 2011-12
From The Chicago Sun-Times: Interim Chicago Schools CEO Terry Mazany says the estimated deficit for next school year is $720 million, That’s up $20 million from just before his predecessor left the district in late November. Mazany called for “shared sacrifice,’’ including from teachers. Their pay raises will cost $80 million, but any successor will have to decide whether to try to re-negotiate the teachers’ contract to trim that tab. The interim CEO also proposed a series of actions that would impact 4,800 students at 17 schools, displace up to 100 teachers and up-end the jobs of, eventually, nine principals.