By Mike Dunn

by Mike Dunn

PHILADELPHIA (CBS) – The Philadelphia School Reform Commission is now searching for a way to close a $54 million deficit because of the City Council decision to only add $40 million in new funding for the cash-starved district.

City Council has agreed to only $40 million in additional funding to the district, but the district budget, which was already approved by the SRC, anticipates the original asked amount of $94 million.

Officials say they must now close the gap with either new cuts or more borrowing.

“We’re hopeful that next week it could be back up to 94, where the mayor proposed and where we budgeted,” says Pedro Ramos, SRC chairman, who hopes the Council adds more to the amount.

Final votes on the budget are expected this coming week and further city contributions are considered extremely unlikely.

“There’s a lot more work to be done,” says Mayor Nutter who seems resigned to that. Nutter also says Ramos and other district officials must now sort out where new reality leaves them.

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