Budget Passed!

The school board passed a budget for the 2012 – 2013 school year.  The budget is the same as was presented last week with the following changes:

(1) School employees will get a step increase

(2) Superintendent will make the additional $5 million in cuts necessary to provide the step increase at his discretion

(3) Any additional funds received will be used to reduce class sizes and / or adjust the CIP.

One major issue is still pending, but it’s a General Assembly issue.  The General Assembly is considering requiring school division employees to pay 5% of their pension costs; an equal salary increase would accompany that mandate so staff would see no decrease in net pay.  School divisions would incur some costs as they’d still be responsible for FICA taxes on the salary increase.  School divisions may be given up to 5 years to phase the co-payments in.

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