The Chicago Board of Education on Thursday voted to approve the settlement with the school’s former interim principal John Thuet and assistant principal Michelle Brumfield.

The board voted 12-7, with one abstention, late Thursday following a contentious debate between board members who were split on how best to fund city schools while keeping costly cuts out of the classroom.

CPS officials have laid out a plan that aims to fill a $734 million budget gap. But there’s still debate over whether a loan should be a part of the final plan — and whether the district should take on a $175 million pension payment.

Chicago Public Schools is set to finalize its fiscal year 2026 budget this week, but questions remain about how the cash-strapped school district intends to plug a $734 million shortfall.

Former Northwestern University football coach Pat Fitzgerald and his attorneys announced the “satisfactory settlement” Thursday, though terms of the agreement were not immediately known.

CPS is facing a $734 million shortfall with a deadline to pass a balanced budget coming next Friday, but the options facing CPS board members and the interim CEO appear to be narrowing.

CPS leaders said they crafted a budget proposal to keep cuts out of the classroom, but the plan leans heavily on one-time funding, raising questions about long-term stability.

The nearly 190,000-square-foot, multi-use building will be home to NEIU’s Daniel L. Goodwin College of Education. The facility, set to open in 2027, will include classroom space, laboratories, administrative and office space, and general campus space.

Chicago Public Schools students returned to their classrooms Monday for the start of the new academic year, as district officials continue working to finalize a budget proposal to close a $734 million funding gap.

The letter came after several board members voiced concerns about the district’s proposed spending plan, one CPS officials have pledged would keep any cuts out of the classroom.

The city’s One Summer Chicago program put 30,000 young people to work this year, providing jobs in transportation, health care, business and more.

“The choices we have are difficult ones,” CPS chief budget officer Mike Sitkowski told the Board of Education, “and it’s very difficult for us to be able to make cuts of this magnitude and keep the impact off of our schools.”

The lawsuit details sixteen arrests that preceded the hire of Romel Campoverde by the district. The complaint highlights cases in which police said he admitted to being a member of the Satan Disciple street gang before he was hired at Farragut Career Academy High School.

CPS officials are faced with closing a whopping $734 million deficit by the end of the month. There is little wiggle room to cut costs or bring in revenue.

President Donald Trump signed the tax increase into law last month as part of his signature spending bill.

Launched in 2018, CPS based its SCS model around engaging academic curriculum, high-quality teaching, wrap-around supports, restorative justice discipline, parent engagement and inclusive school leadership.