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Showing posts with the label contingency fund

Pay for K WILL Go Up (Slightly)

So they hashed it all out about the $3.3M at the truncated Work Session this afternoon. All the Directors were there, save Betty Patu who was traveling. Dr. Goodloe-Johnson was also in attendance. There were several options laid out including breaking the money into chunks to help several different areas. The bottom line is that the Directors felt the over $100 increase per month for full-day kindergarten was too much. They agreed to a $30 per month increase for 2011-12 with the sum gradually going up year-by-year to meet the costs. That will take up $2.1M. The rest of the money will go into a "risk" reserve contingency fund. To be clear, the district already has a contingency fund of $4.6M but that is truly disaster money. Staff identified a number of "risks"for this budget year from either federal or state funding (or both) that are still unknown. If the numbers don't come thru (and the latest state economy numbers that came out are not good), then the d...