NEW YORK, NY June 12, 2006 —More than 300 city schools are being offered the chance to have greater control over their budgets and curriculum. In exchange, Chancellor Joel Klein says, they must agree to meet tough new performance standards.

KLEIN: Successful schools, schools that meet high standards will get additional funds. We're going to continue to place bets on the winners and schools that are not performing, there will be intervention strategies.

Schools that meet the tougher standards will get about 150-thousand additional dollars. But Klein says schools that don't meet the standards could be shut down and their principals could be removed. Only 48 schools currently participate in the program. To pay for its expansion, the Education Department will get rid of 350 administrative positions in its central and regional offices, through a combination of layoffs and attrition.