Chicago School Board Passes Budget Without Controversial Loan
The Chicago Board of Education on Thursday approved a $10.25 billion budget without a controversial loan and makes a pension payment to the city contingent on additional state and local money, capping months of tensions heightened by its worst cash crunch in at least three years.
The panel voted 12 to seven to approve the spending plan which is designed to close a $734 million deficit for the fiscal year that started July 1.