Common use of Enrollment-Driven Funding Clause in Contracts

Enrollment-Driven Funding. Sixty-five percent (65%) of new revenue shall be made available for teacher salaries and fringe benefits. New revenue is defined as Tuition Support, Special Education Grant, Vocational Grant and Complexity Index Grant and will be determined after all enrollment counts (ADM, Vocational, and Special Education) are finalized. Once the actual numbers are known, payment will be made based on the actual funding amount. Teachers will be issued a revised contract at this time to reflect this increase, if applicable. The enrollment-driven funding increase will be distributed in one lump sum payment for all qualifying employees. For highly effective teachers: one hundred percent (100%) of the enrollment-driven funding increase will be applied to the annual base salary of each qualifying employee. For effective teachers: sixty-seven percent (67%) of the enrollment-driven funding increase will be applied to the annual base salary of each qualifying employee. For new to Bremen teachers: This will serve as a stipend only and none of enrollment- driven funding increase (0%) will be applied to the annual base salary. Status: 2016 – 2017 Ending Base Salary Plus Savings Reallocation: Plus New Enrollment Funding = 2017 - 2018 Ending Base Salary Highly Effective 100% applied to base 100% applied to base Effective 100% applied to base 67% applied to base New Teacher Starting Salary N/A None applied to base

Appears in 2 contracts

Samples: Bremen Public Schools, Bremen Public Schools

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Enrollment-Driven Funding. SixtyAfter funding a new teaching position resulting from increased enrollment (an estimated cost of $50,000), sixty-five percent (65%) of the remaining new revenue revenue, minus the cost of ECA stipend increases, shall be made available for teacher salaries and fringe benefits. New revenue is defined as Tuition Support, Special Education Grant, Vocational Grant and Complexity Index Grant and will be determined after all enrollment counts (ADM, Vocational, and Special Education) are finalized. Once the actual numbers are known, known (in February or March) payment will be made based on the actual funding amount. Teachers will be issued a revised contract at this time to reflect this increase, if applicable. As a formula: (New Revenue – New instructor costs) x 65% = funds available for compensation increases. The enrollment-enrollment driven funding increase will be distributed in one lump sum payment for all qualifying employees. For highly effective teachers: one hundred percent (100%) of the enrollment-enrollment driven funding increase will be applied to the annual base salary of each qualifying employee. For effective teachers: sixty-seven percent (67%) of the enrollment-enrollment driven funding increase will be applied to the annual base salary of each qualifying employee. For new to Bremen teachers: This will serve as a stipend only and none of enrollment- enrollment driven funding increase (0%) will be applied to the annual base salary. Status: 2016 2014 2017 2015 Ending Base Salary Plus Savings Reallocation: Plus New Enrollment Funding = 2017 2015 - 2018 2016 Ending Base Salary Highly Effective 100% applied to base 100% applied to base Effective 100% applied to base 67% applied to base New Teacher Starting Salary N/A None applied to base

Appears in 1 contract

Samples: Bremen Public Schools

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Enrollment-Driven Funding. Sixty-five percent (65%) of new revenue shall be made available for teacher salaries and fringe benefits. New revenue is defined as Tuition Support, Special Education Grant, Vocational Grant and Complexity Index Grant and will be determined after all enrollment counts (ADM, Vocational, and Special Education) are finalized. Once the actual numbers are knownknown (in February or March), payment will be made based on the actual funding amount. Teachers will be issued a revised contract at this time to reflect this increase, if applicable. The enrollment-enrollment driven funding increase will be distributed in one lump sum payment for all qualifying employees. For highly effective teachers: one hundred percent (100%) of the enrollment-enrollment driven funding increase will be applied to the annual base salary of each qualifying employee. For effective teachers: sixty-seven percent (67%) of the enrollment-enrollment driven funding increase will be applied to the annual base salary of each qualifying employee. For new to Bremen teachers: This will serve as a stipend only and none of enrollment- enrollment driven funding increase (0%) will be applied to the annual base salary. Status: 2015 – 2016 – 2017 Ending Base Salary Plus Savings Reallocation: Plus New Enrollment Funding = 2016 - 2017 - 2018 Ending Base Salary Highly Effective 100% applied to base 100% applied to base Effective 100% applied to base 67% applied to base New Teacher Starting Salary N/A None applied to base

Appears in 1 contract

Samples: Bremen Public Schools

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