Chicago’s school board rescinded many layoffs with uncertain money. What’s next?
A divided Chicago school board passed a nearly $10 billion budget late Thursday that preserves jobs but relies on an additional $150 million in state funding that may not materialize. Chicago Public Schools CEO Macquline King, whose proposal included cuts that the board amended,…
The Chicago school board recently approved a $10 billion budget for the upcoming fiscal year, preserving jobs for educators and staff. However, the budget relies on an additional $150 million in state funding, which may not be secured. Chicago Public Schools CEO Macauline King expressed concern, stating that the district may not be able to pay employees in September if the additional funding is not obtained.
This would potentially lead to a shutdown of the district as students and staff prepare to return to school on August 24.
Financial experts suggest that securing a short-term loan could help the district meet its payroll, although it would come with higher interest costs. However, there are legal consequences for failing to pay employees, including potential lawsuits and criminal charges. The district may seek grace periods from unions, but strikes or work refusals could halt district operations. This situation is a significant political issue heading into the November election, as every seat on the school board will be up for election.
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