09/28/2008 05:12 am ET | Updated May 25, 2011

Chicago Board Of Education Approves Record Budget

The Chicago Board of Education approved a record $6.2 billion budget yesterday while holding the line on property taxes for the first time since 1999.

The budget includes $5.1 billion in operating expenses, an increase of $200 million from the 2007-08 school year. The biggest increases were an additional $50 million for employee benefits, primarily pensions, and $32 million for salary increases.

Overall, the budget is $400 million more than last year.

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