Chicago Public School principals received their budgets for the upcoming school year yesterday. The budgets project a per-pupil spending rate of $4,087, an amount based on reductions made in February, when the district was anticipating a $1.1 billion deficit for the 2016-17 school year.

But according to CPS CEO Forrest Claypool, who briefed reporters at Coleman Elementary School in the South Side’s Grand Boulevard neighborhood, the district has cut the deficit by about $600 million thanks to anticipated money from Springfield and a new $250 million property tax levy for teacher pensions. Details for how the district plans to relieve the remaining $300 to $330 million hole are expected to be released in the full budget next month.