By Mike DeNardo

PHILADELPHIA (CBS) – The 1600 block of Spring Garden Street may look more like a track and field venue today between the hours of 8:30am and 2:00pm, as students at Masterman High run to raise cash for their school.

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It’s a run for the money by more than 200 students, teachers and alumni, who plan to run — or walk – around Masterman High at 17th and Spring Garden. It’s an effort to raise money for the Masterman Home and School Association to pay for extracurricular middle school programs such as athletics, choir or the chess team.

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Organizer and seventh grade geography teacher Louis “Luigi” Borda says the district financial crunch has hit every school, even the well-regarded Masterman.

“The budget that came out cut all budgets, basically down to the bare bones to a level where most reasonable people say that you can’t run a school that way,” Borda said.

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Borda says last year’s first run brought in $10,300, and he’s hoping to raise $20,000 this year.