Public schools tap SF's rainy day fund

February 24, 2009 3:09:51 PM PST
San Francisco's financially-strapped public school system is getting some help from the city's rainy day fund.

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The Mayor and the Board of Supervisors agreed to release $11.5 million to the district from city's reserves.

The money will save as many as 160 jobs.

However, it is less than half of the $24 million the district requested, and less than it received a year ago.

"Last year we submitted $19.2 million of our rainy day reserve to the public schools. This year we amy not be as well-positioned to do an equivalent amount. And, this is a cause of some concern, but nonetheless it should be a cause of some celebration that at least we can do this," Newsom said Tuesday.

The district faces a $29 million deficit. Many programs and jobs are still in jeopardy.

The school board will get its first look at the district's proposed layoffs during a meeting Tuesday night.

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