Interim Chicago Schools CEO Terry Mazany Wednesday delivered bad news — followed by more bad news.
The estimated Chicago Public School deficit for next school year is $720 million, Mazany said. That’s up $20 million from just before his predecessor walked out the door in late November.
Mazany called for “shared sacrifice,’’ including from teachers. Their pay raises will cost $80 million but, Mazany said, any successor to him appointed after Rahm Emanuel is seated as mayor May 16 will have to decide whether to try to re-negotiate the teachers’ contract to trim that tab.