More Good Budget News: More money to the classroom, elimination of fees for parents, and 5.2% average compensation increase for employees
CASTLE ROCK – Douglas County School District (DCSD) leaders made preliminary budget recommendations for FY2014 to the Board of Education on Tuesday evening. The recommendations add up to good news for students, parents, and employees.
“For our students, we are putting more money back into schools; for our parents, we are eliminating technology fees; and, for our employees, we are giving a 5.2% average compensation increase,” said DCSD Superintendent Dr. Elizabeth Fagen. “The bottom line is thanks to responsible fiscal management and improved state revenues, DCSD is on strong financial footing and we are able to announce this positive budget news.”
Chief Financial Officer Bonnie Betz presented the budget details that include:
• For DCSD Students - $13.7 M:
-$200/student back to our schools – $11.6 M
- $2.1 million funding high school student requests & school innovation – one time requests
• For DCSD Parents - $1.2 M
- Elimination of Technology Fee
• For DCSD Employees – $15.7 M (5.2% Average Compensation Increase)
- 2% On-Going Average Salary Increase - $6 M
- 2% Average One-Time Pay in September - $6 M
- PERA Increase Paid by District - $2.2 M
- Medical Benefit Increase Paid by District - $1.5 M
According to Betz, the 2014 budget supports the priorities and commitments of the DCSD Strategic Plan. “First and foremost, we are focusing our resources to prepare our students to compete on the world stage for the college or career path of their choice. And, second, we are to improving the quality of life for our employees.”
In November, DCSD leaders announced there would be no further budget cuts for the next school year. Following a difficult economic climate and five years of budget cuts, DCSD worked diligently last year to balance the budget and plan for the increased costs curve.
“DCSD is in strong fiscal shape and with these recommendations, we will continue on that path,” continued Betz. Betz pointed to DCSD’s bond rating of AA+ as evidence of fiscal stability.
This is the second year in a row that DCSD has given employee raises and put additional dollars into the classroom.
May 8, 2013 | By Anonymous | Category: Communications