CPS faces possible midyear budget cuts as unexpected funding costs mount

Summary

<p>Just a few months into the school year, Chicago Public Schools has overspent its budget and its emergency contingency budget for special education by $27 million — one of several “compounding financial pressures” that could mean midyear cuts if the school district doesn’t get more from the state in the state Legislative veto session that starts Tuesday.</p><p>Besides ballooning special education costs, CPS officials say they had to pay more than expected in interest on short-term loans to make payroll and received $19 million less in state funding than expected.</p><p>And these unexpected…

Description from Chicago Sun-Times.