The Chicago Public Schools system last week projected a $383 million deficit in its preliminary $2.8 billion budget for fiscal 1994.
Charley Gillispie, the system's chief financial officer, said the shortfall for the next fiscal year, which begins Sept. 1, 1993, is due largely to a lack of resources. He said the school system will have over $230 million less next year than it had in fiscal 1993.
The resources that will not be available next year include $45.7 million in accelerated state aid funds and $73 million in state monies that will be shifted from the school board's control to local school councils.
Another $21.7 million in reserve funds controlled by the Chicago School Finance Authority, the board's financial oversight panel, also will not be available. That money, which was used to fill the fiscal 1993 budget gap, must be replaced next year, Gillispie added.
The rest of the $383 million shortfall includes expenses, such as $60 million for payments to pension funds, $10 million for school repairs, and $10 million for a computer network.
Last month the school system approved a $2.6 billion fiscal 1993 budget after filling a $185.5 million gap.
