CPS proposes budget is called balanced, teachers doubtful

CHICAGO (AP) — Chicago Public Schools officials on Monday revealed a proposed operating budget for fiscal 2017 of $5.4 billion that is $232 million less than last year's which they say puts the district on a path to fiscal stability, but has prompted a strike threat by teachers.

Lewis said the union is willing to accept increased pension payments over time, but has to get a return in value that will improve working conditions and student education.

According to district officials, the proposed $232 million cut from last year's budget covers a $300 million shortfall that remained after the state passed education funding measures in June.