Today, Mayor Bloomberg and Schools Chancellor Klein released the "first-ever" public school progress reports with letter grades. The reports are meant to give educators and parents a snapshot of how well schools are doing and empower them to keep improving. Mayor Bloomberg said, "With these Progress Reports, parents no longer have to navigate a maze of statistics to determine how their child's school is doing and how it compares to others. And our educators now have a new tool to help them see exactly where their school needs improvement and find similar schools that could help them do it.”

Of the 1,224 elementary, middle and high schools surveyed, 23% received A's, 38% received B's, 25% received C's, 8% received D's, and 4% received F's. And the grades are a controversial topic - and in fact, one principal is trying to fight the B his school got. For instance, magnet high schools Stuyvesant and Bronx Science got A's, but Brooklyn Tech's grade is "Under Review."

The Daily News' Errol Louis likes the report cards, Diane Ravitch doesn't and Inside Schools explains what the different components, from the grade to other factors like "student progress," mean. You can download the Excel file of grades here (XLS).