By Mike DeNardo

By Mike DeNardo

PHILADELPHIA (CBS) – New financial figures show the Philadelphia School District still has to cut $39 million to balance this year’s budget.

Severance payments from layoffs and early retirements have caused that $61 million budget gap to grow to $71 million, according to a budget statement released by the school district. Even with the recent layoffs of school police officers and cutbacks in after-school building hours, the district has to identify $39 million more to cut. SRC chair Pedro Ramos.

“We really need to realize the saving is not going to come from revenue in the five remaining months,” said SRC chair Pedro Ramos.

Ramos says the only option is to reduce spending including seeking more concessions from unions. Teachers union president Jerry Jordan says he’s willing to talk, but

“We have done, I think, more than our share in making sacrifices,” said Jordan.

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