CHICAGO — Mayor Rahm Emanuel postponed on Monday a scheduled briefing for aldermen on how his administration plans to fill the $129 million budget gap facing Chicago schools.
The mayor has repeatedly promised that Chicago's public school students will be in class until the end of the regularly scheduled academic year on June 20 but has yet to settle on a way to solve the financial crisis that has engulfed the schools.
"This is a very real, very complex problem and each move or option has its own implications for students, parents, teachers and the financial markets," said Adam Collins, a spokesman for Emanuel. "We don't believe it is wise or productive to have briefings that are speculative. Our team and CPS' team are working around the clock, and meeting daily, and we expect to have information to share shortly."
Emanuel said Thursday the aldermen would be briefed this week on the funding package.
This is the second time Emanuel has postponed a scheduled briefing for members of the City Council who will be asked to approve any plan to help the beleaguered school district.
The mayor said he was left with no other option but to step in and make sure school did not end three weeks early after a judge tossed a lawsuit filed by Chicago Public Schools officials claiming the state's funding formula is discriminatory.
CPS officials had said that if the judge ruled against the district, school would end June 1 — 20 days early.
After the court ruling April 30, Emanuel said he would not allow that to happen and "all options are on the table" to fund CPS.
Several aldermen have proposed using city redevelopment funds to help the schools stay open, but the measures failed to advance. That plan has been endorsed by both Gov. Bruce Rauner and the Chicago Teachers Union.
City officials also could decide to tap the city's emergency or "rainy day" funds, or to take out a loan on behalf of CPS. Additional cuts to schools are also possible.
CPS must pay its employees' pension fund $721 million by June 30, something it could no longer afford to do after Rauner vetoed a bill in November that would have given Chicago's schools $215 million.
Rauner said Illinois Senate Presiden John Cullerton broke a compromise signed last June that allowed schools to open in September. Part of that deal promised more money for Chicago schools in return for statewide "pension reform," a long-held goal of the governor.
In January, Claypool ordered four unpaid furlough days for all CPS employees to save $35 million. He also canceled professional development events for CPS central office staff to save $5 million and slashed charter school budgets by $15 million by the end of the year, officials said.
In February, Claypool cut another $31 million by freezing a portion of schools' discretionary funds, which can be used to buy textbooks and technology and pay for after-school programs, field trips and hourly staff.
Those cuts have whittled CPS' deficit to $129 million, officials said.
