CHICAGO (WLS) — It is down to the wire. The Chicago Board of Education has just a few days to pass a balanced budget.

Monday marked the beginning of the school year for Chicago Public Schools, which was characterized by smiles, hope, and optimism. However, by Tuesday, attention reverted to reality at CPS headquarters, where the partly elected and partly appointed school board faced notable disagreements regarding the CPS-proposed budget, which has the backing of interim CPS CEO Macquline King.

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“This budget supports all our contractual commitments to our labor partners and ensures stability in school funding, thereby preventing potential classroom cuts both now and later in the academic year,” stated CPS Chief Budget Officer Mike Sitkowski.

State law requires the district to pass a balanced budget by the end of the month.

10th District School Board Member Che Rhymefest Smith, who was elected, warned, “If we fail to pass a responsible budget, board members could face losing their positions. In addition, fines may be imposed on board members, and schools could be forced to shut down the following day. This is the consequence if we go even one day without an approved budget.”

Chicago Mayor Brandon Johnson doubts it will happen.

“We won’t face a stalemate or shutdown. We’re fully committed to ensuring all children receive a world-class education, regardless of their location,” Johnson reassured.

Nevertheless, the mayor’s office, along with the Chicago Teachers Union and 11 aligned school board members, are advocating for a revision of the budget to incorporate a municipal pension payment and a corresponding loan.

“Borrowing should not be viewed as a sin; it’s simply a means of deferring payment. We must act responsibly for the current students,” explained appointed School Board Member Emma Lozano.

“We don’t want to take out a loan, but we want the option to do it,” said elected School Board Member Jitu Brown.

The pension payment is legally the city’s responsibility because it includes city workers. In the past, CTU was against CPS paying for it, but now, the union and mayor support it. If the $175 million payment is shifted to city, it will add to the city’s big deficit hole.

“Balancing the budget on the backs our children so we can help out our mayor; that’s not responsibility. That is not solution-oriented,” said elected School Board Member Jennifer Custer.

Educators and parents rallied with CTU outside of CPS headquarters on Tuesday.

“For years, parents in our communities have felt that our schools have been left behind when it comes to district budget,” said CPS parent Carla Rivera.

“Hope you get your heads together, and we could figure out a way to walk this tightrope collectively while we demand full funding from the state, JB Pritzker,” said CTU Vice President Jackson Potter.

CPS says it will cover the pension payment if the district gets more TIFF money from the city or additional state funding. The district says a loan is irresponsible.

“Taking out debt when it is not necessary will send district on a downward spiral; that will have real impact on our schools,” said CPS Chief Budget Officer Mike Sitkowski.

CPS says that downward spiral will mean future cuts in the classroom. The current balanced budget does not include any cuts in the classroom. The budget needs a simple majority to pass. So far, there are not enough votes, unless one board member flips.