The City Council's education committee approved the Memphis City Schools' $879 million budget this afternoon.
The city's contribution to that figure is $78 million.
Members of the city school board also told the committee they were for the concept of single-source funding, but need more details before they can back a specific plan.
Committee chair Janis Fullilove also recounted her recent experience at Oakhaven Middle/High School, which she said reminded her of "the riots in the '60s."
"There were about 200 children fighting in the street," she said. "I saw one young man put his hand down his pants as if he had a weapon. I did not see a weapon, but he was threatening other folks in the crowd.
"It was horrid. It was reprehensible. It was frightening. Neighbors were standing on their porches. Parents couldn't get out of their cars to pick their children up from school. They couldn't find their children.
"I understand this is the third such incident that has happened since school started over there at Oakhaven."