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The money will go to 532 public elementary and middle schools, where the three-quarters of the students failed state reading and math tests last year.

View the full breakdown of funds.

Of the 532 school, 182 are in the Bronx, 179 are in Brooklyn, 104 are in Manhattan, 54 are in Queens and 13 are in Staten Island.

Black mostly stuck to prepared remarks during her announcement, which she made in Downtown Manhattan alongside Mayor Michael Bloomberg, teachers' union leader Michael Mulgrew, City Council Speaker Christine Quinn and other municipal officials.

"We need to continue to raise standards and our own expectations. A tougher, more rigorous curriculum is a start, and we applaud the state for raising the bar," said the chancellor.

"Today's announcement reflects a lot of the strategies that we are employing throughout city government, particularly during these tough economic times," said Bloomberg. "We just don't have enough money to do everything that we'd like to do, so we're continuing to look for a new way to turn our resources to where they are needed the most."

Afterwards, Black was asked by a reporter to comment on a joke she made in a Manhattan task force meeting last week, saying that "birth control" could help school overcrowding.

The mayor said he would answer for the chancellor, said that Black made a mistake and is adjusting to public life. He then said Black is moving forward and focusing on the budget.