Breaux Bridge – Employees of the St. Martin School Board will likely receive a bump in pay during the current fiscal year following action taken at a meeting of the board’s finance committee last week.
The increases, to be paid from the board’s two one-cent sales tax funds, could amount to $1,515 to professional employees and $1,375 for paraprofessionals.
The proposed salary supplements are at least partially due to a “surplus” recorded in one of the two funds at the end of the 2010-11 fiscal year this past June 30 and projected surpluses in both funds by June 30, 2012.
Fund 60, also referred to as Sales Tax No. 1, actually disbursed just under $200,000 more than it collected during FY2010-11. But the 2011-12 preliminary budget adopted earlier this summer projects an ending surplus of $618,919 for the year, which would boost the fund balance to $2.3 million.
Fund 70, also referred to as Sales Tax No. 2, ended the fiscal year with a surplus of $451,707, increasing the fund’s overall balance to $4,762,582. And the current budget projects an annual surplus of just under $424,000, which would increase the ending fund balance to $5.19 million by June 30, 2012.
Although revenues from Sales Tax No. 1 currently contribute $4,970 per year to the salary of all professionals and $3,550 to paraprofessionals, and Sales Tax No. 3 provides $1,530 to each category of employees, the 2011-12 budget does not provide any additional supplements from either of the two sales tax funds.
Last year the funds paid salary supplements totalling $2,646 to professional employees and $2,417 to paraprofessionals.
In a report presented to the finance committee last Wednesday, Superintendent Richard Lavergne and CFO Emile Soulier recommended the additional supplements be added to this year’s budget, provided there are no unforeseen adverse developments.
Finance committee members agreed to recommend to the full board that a supplement of $725 be paid to all employees from Sales Tax No. 2 in November, and that additional supplements of $300 to all employees from Sales Tax No. 2 and $490 for professionals and $350 for paraprofessionals, from Sales Tax No. 1, be scheduled for May 2012.
These adjustments will be incorporated into the 2011-12 budget scheduled for adoption at today’s (Sept. 7) regular board meeting.