Source: Education Week
By the end of the school year, in late June, the Chicago school district will have just $24 million in cash—enough to support two days of operations. Without a fresh infusion, next year’s budget will include devastating cuts of thousands of positions. It has already started preparing principals for the possibility that their budgets could be cut by more than 20 percent without state aid. Perhaps the biggest tragedy of all: The slow-moving debacle, decades in the making, was also foreseeable to some extent, observers say.