The approved proposal by Chicago Public Schools plans to close a $505-million budget gap with central office cuts, restructuring debt and eliminating 300 Chicago Teachers Union positions.
To save the CTU jobs and pay for a new teachers' contract, which includes raises, Mayor Brandon Johnson has proposed a long term high interest loan, according to an internal memo obtained by ABC7.
"As someone who relies on Chicago Public Schools and the first mayor who sends their children to Chicago Public Schools, I'm not going to tolerate cuts for our children," Johnson said.
However, the mayor has not answered whether or not a high interest loan is still in play. Meanwhile, CPS says it has no plans to use a loan to balance its budget.
Before the CPS Board meeting about r next year's budget, a rally was held in opposition of the budget, with some CPS teachers and school staff including some who had recently been laid off.
The rally was held at Jones College Prep by the CTU. They said the budget will adversely effect schools, specifically on the South and West sides.
"If the board cares about the students in Black and brown neighborhoods and their mental and emotional health, we need to see that in the budget," laid off CTU paraprofessional Kizzy Evans said.
The Board heard directly from those concerned about staffing cuts during its monthly meeting.
"This budget balanced the budget on the back of staff," laid off CTU member Michelle Ludwig said.
RELATED: Mayor Johnson proposing loan to avoid CTU cuts, close Chicago Public Schools budget gap: memo
The proposed budget for CPS next year is $9.9 billion, which would close a $505-million deficit.
"It has more funds for special education... English as a second language," CPS CEO Pedro Martinez said.
CPS administrators said the budget includes cuts to central office operations and adds more than 500 teachers. CPS executives explained adding more teachers is an effort to reduce class size, and the layoffs to support staff will now allowing the staff to be reassigned to schools with the most need.
"This is a budget based on equity, not enrollment," CPS board member Michelle Morales said.
The budget passed unanimously. The union representing teachers and staffers said the budget doesn't do enough for their students.
"We don't think this budget is yet where it needs to be, which is why we are negotiating a contract to supplement and improve all of the things we think our students need and deserve," CTU Vice President Jackson Potter said.
The budget is expected to be amended once the district has agreements with teachers and principals unions.