CHICAGO — The Chicago Public Schools on Monday proposed a $6.4 billion budget for the next year that includes $600 million of bonds and would drain the district’s $190 million fund balance to help erase $370 million of red ink.

The release of the proposed budget will be the subject of hearings before the Chicago Board of Education votes on it later this month. Its marks the culmination of a months-long process that began with the district’s dire warning of a looming $1 billion shortfall.

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