|"CPS Our Children...Our Future"
I wonder what's the story here. If it's not about the money what is it about?
Chicago’s school district will not be saving as much by closing 54 schools as it originally told the public.Later this month on May 22, 2013 will the Board of Education vote on proposed school closings.
When it announced the closings, Chicago Public Schools said it would save $560 million in capital expenses over the next 10 years by closing schools and avoiding repairs and upgrades on those buildings.
Now, the district is revising that cost savings number downward. It says it was off by $122 million, or 20 percent. The real 10-year cost savings figure is $437.8 million, CPS now says.
It made the correction on page 36 of a 457-page document that lays out the district’s facilities plan for the next decade.
Chicago Public Schools says it made an “honest mistake” when adding numbers, and had plugged in some schools that didn’t belong there. But the overall cost savings is also being revised downward because schools that had not been assessed for years are getting thorough capital-needs reviews.