Common use of Regular Salary Clause in Contracts

Regular Salary. If the proposed contract is ratified by the ▇▇▇▇▇ Teacher’s Association by June 1, 2017, a Two Percent (2%) stipend (signing bonus) will be paid to ▇▇▇▇▇ Teachers in June of 2017. This percentage will be based upon the teacher’s base salary for the 2016-2017 school year. 1. For the 2017-2018 School Year, three percent (3%) will be added to the base salary amount of Step 0 on Appendix E. This schedule will remain in effect for the duration of the agreement. The base salary shall be Thirty Thousand Three Hundred and Eleven Dollars ($30,311.00) and shall be applied to the index stated in Appendix D. A stipend will be paid to teachers for the 2018-2019 and the 2019-2020 school years based upon the amount shown on line 6.01 of the Board-Approved October Five-Year Forecast following the end of the respective school year. For the 2018-2019 school year, if line 6.01 (referred to as Revenues over Expenditures) is between Two Hundred Thousand and Four Hundred Thousand ($200,000 and $400,000) dollars, the stipend amount will be One and One-Half Percent (1.5%) of the teacher’s base salary for the 2018-2019 school year. This stipend will be paid during the month of November, 2019. If line 6.01 exceeds Four Hundred Thousand ($400,000) dollars, the stipend amount will be Three Percent (3%) of the teacher’s base salary for the 2018-2019 school year paid during the month of November 2019. For the 2019-2020 school year, if line 6.01 (referred to as Revenues over Expenditures) is between Two Hundred Thousand and Four Hundred Thousand ($200,000 and $400,000) dollars, the stipend amount will be One and One-Half Percent (1.5%) of the teacher’s base salary for the 2019-2020 school year. This stipend will be paid during the month of November, 2020. If line 6.01 exceeds Four Hundred Thousand ($400,000) dollars, the stipend amount will be Three Percent (3%) of the teacher’s base salary for the 2019-2020 school year paid during the month of November 2020. 2. The annual salary for each member shall be paid in twenty-six (26) equal installments and shall be delivered to each member every other Friday. 3. Any new employees will be required to have direct deposit. 4. All payroll deductions taken out of a regular pay will be transmitted by the Treasurer at the close of the working day of that pay date when administratively feasible with the exception of STRS and other mandated deduction schedules. The Board and Treasurer shall not be held responsible for the posting or crediting of the transfer by a financial institution.