MPS budget total revenue projected to be around $1.47 billion

MILWAUKEE (CBS 58) -- We are getting a clearer idea of what the budget for Milwaukee Public Schools will look like next school year.

In total, the district's revenue is projected to be nearly $1.47 billion. That is thanks, in part, to this year's referendum, which will provide an additional 140 million in year one, funded by an increase in local property taxes. 

Another key piece of funding comes from the state, which raised per pupil funding by $325.

But, despite the big numbers, the district will be cutting nearly 300 jobs.