Just a few hours before the deadline Thursday night, the Chicago Public Schools passed a budget plan in a late vote.

The Chicago Board of Education approved a deal that does not include a controversial $200 million borrowing measure.

If the budget had not passed Thursday night, there was a threat that Chicago public schools might not have been able to stay open. But that has been averted following the heated vote, which went against the wishes of Mayor Brandon Johnson and the Chicago Teachers Union.

"The right thing happened, what's best for the kids," said school board member Ellen Rosenfeld.

"School will be in session tomorrow. School will be in session after Labor Day," said school board member Carlos Rivas Jr, "so it's a really joyous occasion for us."

The final vote was 12 in favor, seven opposed, and one abstaining in the vote on the district's plan for closing a $734 million budget shortfall.

The budget plan, as proposed by Chicago Public Schools chief executive officer Macquline King, does not include a $200 million high-interest short-term loan sought by the mayor, and does not guarantee to reimburse City Hall $175 million for a pension payment covering non-teacher employees unless CPS gets more money than it already expects from the city or state.

The $10.25 billion budget plan also includes cuts to meal prep staff, crossing guards, janitorial workers, and central office staff, leaving most classroom jobs untouched.

"Let's move forward with purpose and a budget that puts our students first," King said.

The approved spending plan also counts on $379 million in funding from a TIF surplus, about $79 million more than the district received last year. However, no TIF surplus is assured until the Chicago City Council approves the city's own budget plan, and some critics have said the district can't count on that money if it doesn't make the $175 million pension payment.

"The students of Chicago won today. Balanced budgets won today. Common sense won today," said school board member Dr. Che "Rhymefest" Smith. 

More than 30 speakers, including elected leaders, bent the ears of Chicago's school board before they voted on how to fund schools.

"Why did we wait till the last minute to pass a budget?" said community member Wanda Hopkins.

Some leaders spoke out against a high-interest loan.

"We believe that the risky effort to take out a loan would have a long-term damaging impact," said Greg Kelley, president of SEIU Healthcare.

But members of the Chicago Teachers Union had urged the school board to make the pension payment and authorize the loan sought by the mayor, a former CTU organizer.

"Our schools have experienced decades of disinvestment and cuts, and we just cannot afford more. Let me tell you, every year since I've been in Belmont Cragin, we have received preliminary budgets from CPS that have failed to allocate enough money for special education positions," said teacher Eric Branholm.

Chicago Teachers Union President Stacy Davis Gates spoke out against the CPS budget plan at the meeting Thursday night.

"You have to protect our children and right now this budget doesn't feel protective," she said.

Board member Emma Lozano expressed concerns about the budget and its dependency on TIF surplus funding. TIF districts essentially freeze property taxes collected from a specific area, with the extra tax money generated from improved property values going to a fund intended to support development projects in blighted communities.

"I myself don't feel comfortable with this budget, because it's based on assumptions, and there's no guarantees," said CPS board member Emma Lozano. "But I know that this board together, we could figure it out."

A group of 26 City Council members earlier signed a letter urging the school board to reject the loan to pay for the pension payment, and committing to supporting a TIF surplus, without specifying how much funding that would mean for CPS.

"The mayor has been, he calls himself the collaborator in chief, and I can tell you that on certain issues, he has brought unique coalitions together to collaborate on pushing back on some of the things that he is proposing," said Ald. Gilbert Villegas (36th), one of the alders who signed the letter.

The loan has been at the crux of the CPS budget debate for months. Former CPS chief executive officer Pedro Martinez also opposed taking out a loan to finance the pension payment, leading to his ouster.

In a statement, the Chicago Teachers Union said in part that the budget will cost students everything from safe passage and crossing guards to consistent hot meals and special education minutes. The union is calling on the State of Illinois for more funding.