Vigo County School Board Uses Rainy Day Surplus For Teacher Pay Raises
TERRE HAUTE, Ind. -- Teachers in Terre Haute are getting pay raises.
The Vigo County School Board approved the pay raises at its meeting Monday night, while also cutting about $5.5 million from the school district's budget. Those cuts include eliminating six administrative positions.
The board said they approved the teacher raises because the district discovered it had more money its rainy day fund than it had originally thought -- about $4 million extra. The board worked out a deal with the teacher's union to use 1.1 million of that for giving teachers a retroactive pay raise.
The discovery of the rainy day surplus was perfectly timed, said Supt. Rob Haworth. He told WTHI with the surplus, they can use the extra cash for the teacher raises while also keeping the district's balance above $13.5 million. Any lower than that, Haworth said it would have a negative effect on the district's bond rating.
The budget cuts also include consolidating two elementary schools.
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