CHICAGO (WLS) -- The clock is ticking for the Chicago Board of Education to vote on a balanced budget for CPS before month's end.

If that doesn't happen, the district could temporarily shut down.

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The Chicago Board of Education is quickly running out of time to agree on a balanced budget with the district facing a more than $730 million shortfall.

By state law, the board must approve a budget or else risk a district shut down.

Interim CPS CEO Dr. Macquline King said she is in favor of the CPS proposed $10.2 billion budget, which closes the whopping deficit and does not call for any mid-year teacher cuts.

"It protects classrooms and it also ensures the progress students have made is secured, the investments that were made," Dr. K

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