BENEFIT FUND IMPACT ON SALARY. For salary calculations, the balance of the Employee Benefits Fund on May 1 of Year One shall be used to determine the base salaries for Year Two as set forth in Appendix B. The District shall communicate the balance of the Employee Benefits Fund to the Association on or before May 30 of the first year of this Agreement and the balance of the Employee Benefits Fund for purposes of this Agreement shall not include any loans into the Fund by the District or any amounts borrowed out of the Fund by the District, as described in Article II (Terms for Reopening).
BENEFIT FUND IMPACT ON SALARY. For salary calculations, the balance of the Employee Benefits Fund on May 1 of Year One shall be used to determine the base salaries for Year Two as set forth in Appendices B and F. The District shall communicate the balance of the Employee Benefits Fund to the Association on or before May 30 of the first year of this Agreement and the balance of the Employee Benefits Fund for purposes of this Agreement shall not include any loans into the Fund by the District or any amounts borrowed out of the Fund by the District, as described in Article II (Terms for Reopening). SIGNING BONUS FOR TEACHER NEW HIRES. A newly hired teacher shall receive a one- time, lump sum hiring bonus in the amount of $1,000. The signing bonus shall be adjusted for FTE and length of contract less than 194 days (193 days in Year Two of this Agreement), and be paid within two (2) pay periods of the employee’s start of service.
