Chicago Board of Education approves budget

August 28, 2008 5:32:25 AM PDT
The Chicago Board of Education approved a new budget that does not include a property tax increase. In order to balance the budget, board president Rufus Williams says CPS will take more than 100 million dollars from its reserve fund.

CEO Arne Duncan says this can't continue. He says Chicago needs a more stable state funding system.


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