CHICAGO (WLS) -- It is down to the wire. The Chicago Board of Education has just a few days to pass a balanced budget.

Smiles, hope, and optimism defined Monday's first day of Chicago Public Schools. On Tuesday, it was back to reality at CPS headquarters, where the partly elected, partly appointed school board remains deeply divided over a CPS-proposed budget, which interim CPS CEO Macquline King supports.

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State law requires the district to pass a balanced budget by the end of the month.

"If we don't pass a responsible budget, board members could lose their seats. Board members can be fined. In fact, schools could shut down the next day. That's what can happen if we go into one day without a budget," said elected 10th District Sc

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