>From the Crain's Chicago Business Newsroom
<http://www.chicagobusiness.com/cgi-bin/news.pl?id=2404>


Schools to cut budget, jobs

by Greg Hinz
� May 19, 2001
�
The tightest budget in five years�including nearly 300 layoffs�will be
unveiled Wednesday by Chicago Public Schools CEO Paul Vallas.

Sources said the $4-billion spending plan for the school year beginning in
September will call for a 0.4% reduction in total spending, with capital
expenditures down and operating costs up modestly but well below the 5%-plus
increases in some recent years.

The layoffs, the first since 1995, reportedly will be across the board in
non-teaching positions. Officials blame a slowdown in state aid increases. 


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