New Money means money advanced in excess of the outstanding principal balance at the time a new advance is made.
New Money means funds raised during a twelve- month period designated and described in the annual program application. These funds cannot include interest income from endowments or interest from other funds raised previous to July 1 of the year of application.
New Money shall refer to the increase in funding recognized by the school corporation as being available for teacher salaries.
Examples of New Money in a sentence
New money issue--An issuance of bonds for the purposes of constructing, renovating, acquiring, and equipping school buildings; the purchase of property; or the purchase of school buses.
New money issues are financings that generate funding for capital projects.
New money issues are those financings that generate additional funding to be available for expenditure on capital projects.
New money bond proceeds may not be used to fund operational activities.
New money raised by bond sales is intended to fund new Authority projects or complete Authority projects that were initiated under a prior bond sale.
More Definitions of New Money
New Money means money advanced in excess of the outstanding principal balance at the time a
New Money. The excess, if any, of the amount applied to the new policy over the Old Money, on or within 12 months after the issue date of the new policy.
New Money has the meaning given to it in the Intercreditor Agreement.
New Money. Excludes Add'l Days Contract Year Vermont State Employees 2013-14 2.75% 2013-14 2.00% 2014-15 3.00% 2014-15 2.50% 2015-16 3.42% 2015-16 2.50% 2016-17 3.32% 2016-17 2.00% 2017-18 2.25% Average: 3.1% Average: 2.25% Vermont ranked 19th of 51 (states and D.C.) in general per capita income in 2015 Vermont Teachers ranked 15th of 51 in salary in 2015 (and 14th in 2017) Vermont Teachers ranked 4th of 51 in salary change 2016-2017 Source: NEA Rankings & Estimates (2017) ◦ The teacher proposal for 4.5% “New Money” would result in teachers getting increases as high as 7.25% ◦ The 2.9% “New Money” settlement the Fact Finder recommended would result in teachers getting increases as high as 5.6% rejected that proposal ◦ Our 2.0% “New Money” proposal at Fact Finding would even result in teachers getting increases as high as 4.7%, but the teacher negotiation team Teachers have virtually the same high quality health care starting January 1, 2018, with minimal changes in coverage The ONLY items to negotiate are Premium and Out of Pocket (OOP) cost sharing Board Proposal at Factfinding: Vermont Legislative Targets from Act 85: Employee pays 20% of Premium Employee Out of Pocket Maximum Costs: ◦ $400 if on a Single Plan* ◦ $800 if on a Two-Person or Parent-Child(ren) Plan* ◦ $1200 if on a Family Plan* * Based on data for OOP spending under previous plan Tier Current Premium New Premium Current Avg OOP New Max OOP Teacher Savings Single $1,806 $1,256 $400 $400 $550 Two-Person $3,550 $2,359 $800 $800 $1,191 Parent + 1 Child $3,550 $1,942 $800 $800 $1,608 Parent + 2 Children $4,758 $1,942 $1,200+ $800 $3,216+ Family $4,758 $3,479 $1,200+ $1,200 $1,279+ The total savings for all teachers on health care is equivalent to more than 1.5%
New Money is defined as the amount of the total projected basic grant for the current year ending June 30, 2024, less the total amount of the total basic grant for the previous year on June 30, 2023. This “New Money” is available for bargaining teacher salaries, fringe benefits (e.g. TRF, FICA, VEBA, insurance contributions, retirement benefits, etc.) and stipends. Stipend One-time money paid in recognition of a particular performance in a compensation category. This stipend/bonus is treated as compensation subject to applicable state and local taxes. Base pay Recurring money added to the teacher’s base salary (excluding any stipend) Salary Range All teacher salaries will range between $40,000 and $75,373.53 for this contract period. Teachers may not earn salaries that exceed the salary range. Teachers may earn money from ECAs and stipends more than the salary range. Eligibility for Pay Increase and Stipend Teachers rated Ineffective or Improvement necessary will not be eligible for any salary increase (categories 1, 2, or 3) in the current year and will remain at their salary from the prior year. Teachers earn the stipend/bonus regardless of rating. Teachers who are not employed by Union-North United School Corporation when the stipend is paid out are not eligible to receive the stipend. Teacher Year to Qualify for Stipend In order to qualify for the stipend, the teachers must be employed by Union-North United School Corporation during the 2023-2024 school year at the time the contract is ratified. Teacher Evaluation Rating (Base) Teachers who are rated Highly Effective or Effective under the Union North RISE evaluation model will be eligible to earn 6 units. Teachers who are rated Needs Improvement or Ineffective will be eligible for 0 units. Experience (Base) Upon completing 120 days with the corporation, each staff member will be eligible to earn 1 unit. Professional Development/Leadership (Stipend) For every 10 hours of professional development, leadership, or addressing of academic needs for students, teachers will earn 1 unit up to a maximum of 3 units. The building principal must approve all activities and a log of the teacher’s hours must be confirmed. If sufficient hours to earn a unit are not accrued through weekly professional development, teachers are responsible for seeking additional professional development, leadership, and academic need opportunities (see p. 15 for examples). For the 2023-2024 school year all teachers will receive the stipends for w...
New Money is defined as the amount of the total projected basic grant for the current year ending June 30, 2023, less the total amount of the total basic grant for the previous year on June 30, 2022. This “New Money” is available for bargaining teacher salaries, fringe benefits (e.g. TRF, FICA, VEBA, insurance contributions, retirement benefits, etc.) and stipends. Stipend One-time money paid in recognition of a particular performance in a compensation category. This stipend/bonus is treated as compensation subject to applicable state and local taxes. Base pay Recurring money added to the teacher’s base salary (excluding any stipend) Salary Range All teacher salaries will range between $40,000 and $75,373.53 for this contract period. Teachers may not earn salaries that exceed the salary range. Teachers may earn money from ECAs and stipends more than the salary range. Eligibility for Pay Increase and Stipend Teachers rated Ineffective or Improvement necessary will not be eligible for any salary increase (categories 1, 2, or 3) in the current year and will remain at their salary from the prior year. Teachers earn the stipend/bonus regardless of rating. Teachers who are not employed by Union-North United School Corporation when the stipend is paid out are not eligible to receive the stipend. Teacher Year to Qualify for Stipend In order to qualify for the fall stipend, the teachers must be currently employed by Union-North United School Corporation and must have completed between 53 and 120 paid days of service (including sick and personal days used) during the 2020-2021 school year. In order to qualify for the spring stipend, the teachers must be employed by Union-North United School Corporation during the 2021-2022 school year for between 1-120 days by March 1, 2022. Teacher Evaluation Rating (Base) Teachers who are rated Highly Effective or Effective under the Union North RISE evaluation model will be eligible to earn 6 units. Teachers who are rated Needs Improvement or Ineffective will be eligible for 0 units. Experience (Base) Upon completing 120 days with the corporation, each staff member will be eligible to earn 1 unit. Education (Base) Teachers with 15 credit hours beyond a bachelor’s degree will earn 1 unit and those with 30 credit hours beyond a bachelor’s degree will earn 2 units. Teachers may not earn more than 2 units for education. Professional Development/Leadership (Stipend) For every 10 hours of professional development, leadership, or addressing of ac...
New Money. The Greatest Wealth Creation Event in History (2019) - Full Documentary