UPDATED: 6:17 p.m. 2/9/16

CHICAGO (CBS) — Principals at the Chicago Public Schools learned Tuesday how much money they must cut from their school budgets Tuesday.

Principals stopped by CPS regional offices to find out how much money they will have to slash from their budgets, and how many employees they might have to lay off to do so.

Some schools face larger cuts than others. It appeared most of the layoffs would be support staff, like clerks and secretaries, but teachers don’t necessarily have the all-clear.

A CPS spokeswoman said that no school sees a reduction of more than 3.5 percent, with cuts averaging 1.4 percent per school, not including charters.

To see how the cuts are affecting each school, click here.

The district is seeking to trim $120 million in spending this school year through layoffs and other budget cuts at schools if the contract with the Chicago Teachers Union isn’t settled soon.

In a statement, the Chicago Teachers says the cuts are, “completely retaliatory, and not at all evident of some urgent crisis in our schools.”

CBS 2’s Dorothy Tucker reports many principals were cautiously optimistic when they went into the district’s regional offices. Many were pleasantly when they walked out holding single sheets that detailed their reduced budgets.

One of the few willing to share details, Dr. Dennis Sweeney, principal of Grissom Elementary School, who is losing $50,000 of his $3 million budget. He says he’ll save his teachers’ jobs but the message to students won’t be good.

“We might need to reduce our afterschool program,” he said. “There might be funds for computers, for example, that we budgeted, funds for textbooks.”

Some expect to make little or no cuts.

“We knew this happening and so we were careful,” said Karen Boran, principal of John Hancock High School.

Some Chicago aldermen have suggested using surplus tax increment financing money to bail out CPS.

All told, TIF funds add up to more than $1 billion in Chicago, but most of it is committed to projects to improve the city’s neighborhoods, such as new libraries, parks, and even athletic fields for schools.

Aldermen are divided on whether they should sacrifice their portion of surplus TIF money.

Ald. Carlos Ramirez-Rosa (35th) said 34 aldermen are backing his proposed resolution urging Mayor Rahm Emanuel to use more nearly $1.4 billion in TIF money to ease the financial crisis at CPS.

Ald. Ariel Reboyras (30th)said some aldermen already have identified TIF-funded projects in their wards that they’re willing to give up.

“I’m not saying clear the counters, get all the money over there. Every alderman should look at every development that you have coming forward, and decide which ones you want to hold and which ones you want to let go for the choice of our children,” he said.

Ald. Ameya Pawar (47th) has gone on record saying he’s willing to transfer $16 million of his TIF dollars to CPS. That would mean giving up an upgrade to a neighborhood library, as well as improvements to two parks, and the Northcenter Town Square. He’s also offered to cancel a $2 million project to finish a new outdoor campus for McPherson Elementary School.

Ald. SusanSadlowski Garza (10th) also said she’s willing to give up $5 million in TIF funds for her ward.

“We can’t afford to lay off any more teachers,” Garza said. “We can’t cut anything else from CPS. It’s not acceptable.”

However, Ald. Jason Ervin (28th) has said he won’t give up any of the TIF money for his ward.

“I don’t believe that the community where those tax dollars have come from should be giving those tax dollars up to solve something that they’re not going to solve,” he said.

The mayor has said TIF money already is used to improve school buildings, and it’s not fair to take all of the city’s TIF money to fund school operations.

“Why should we cut a library when that’s as essential for a child’s education as a school?” Emanuel said. “I think pitting a neighborhood library against a neighborhood school or a neighborhood park against a neighborhood school is the wrong choice.”

Ald. John Arena (45th) acknowledged using TIF surplus money would be a one-time stopgap solution for CPS, but he hopes Gov. Bruce Rauner will see the city is willing to help itself, and have the state pitch in with extra funding as well.