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Union leader calls fiscal crisis fake

Published: Tuesday, Jan. 29, 2013 1:15 a.m.CDT

CHICAGO (AP) – The Chicago Teachers Union says an audited budget for the last school year showing an extra $344 million indicates the city’s school district has manufactured a fiscal crisis.

However, Chicago Public Schools officials say the money is budgeted for the current school year. They say the money appears on last year’s books thanks to Cook County sending out property tax bills on time for a change.

The district projects a $700 million deficit.

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