The school division presented it’s first draft of the 2012 – 2013 SY budget. The highlights:
(1) The rate we put aside funds for teacher and staff retirement has increased significantly, which will result in nearly $32 million in additional expense next year.
(2) Enrollment will increase more than 2700 students next year, which is projected to cost about $24.3 million more.
For those of your doing the math, that’s about $56 million more in expenses next year due to increased transfers to VRS and increasing enrollment. That $50 million additional expense will have the following effect on the 2012-2103 SY budget:
(a) No STEP or salary increases for teachers or staff.
(b) No canceled programs, but not expansions of existing programs either.
(c) No reductions in force.
(d) No increases in health insurance premiums or deductibles.
(e) No changes to CIP.