С»ÆѼµ¼º½, TX—Tonight, the С»ÆѼµ¼º½ Independent С»ÆѼµ¼º½ District's Board of Trustees approved payment allotments for all regular, full and part-time staff members that will be the equivalent of three percent of the employee's salary. The one-year only increase will cost an estimated $14.16 million and would be funded out of district reserves.
"We are pleased the board approved this important action to support our employees who have not received a salary increase since 2009," Chief Financial Officer Nicole Conley-Abram said. "While reserve levels are strong, the district would only be able to sustain two years of payments unless reserve levels are increased considerably."
The district could make the salary increase permanent for all employees if voters approve a tax rate increase through a Tax Ratification Election in November. If a tax rate increase is not approved, the district would need to make an additional payment of $14.6 million out of reserve funds for the 2013-14 school year.
"It is important for our district to provide competitive salaries in order to attract and keep highly qualified staff members," Meria Carstarphen, С»ÆѼµ¼º½ ISD Superintendent, said. "I am pleased the board recognizes the need to provide our employees with a well-deserved salary increase."
Trustees also approved the FY2013 recommended expenditure budget, totaling $982,148,462. The expenditure budget comprises a proposed general fund of $838 million, food service fund of $40 million and debt service fund of $102 million.
"The district has taken many steps to prepare a budget that continues to meet the needs of our district to provide a quality education for all students, especially in light of the significant state school finance challenges faced by С»ÆѼµ¼º½ ISD," Mark Williams, С»ÆѼµ¼º½ ISD Board of Trustees President, said. "I am particularly pleased that as part of the budget the district was able to provide a compensation increase to its employees this year."
The Board of Trustees is scheduled to take action on the FY2013 budget and tax rate in August.