Common use of Financial Liability Clause in Contracts

Financial Liability. The Board and the Association shall agree on the total amount due previous certified retirees, not including those retiring after the current school year, for the upcoming school year. After all other matters affecting finance have been settled through the negotiation process, the above agreed upon amount for previous certified retirees shall be deducted from the total amount negotiated for salaries and the base salary shall be adjusted accordingly.

Financial Liability. The Board and the Association shall agree on the total amount due previous to previously certified retirees, not including those retiring after the current school year, for the upcoming school year. After all other matters affecting finance have been settled through the negotiation process, the above agreed agreed-upon amount for previous previously certified retirees shall be deducted from the total amount negotiated for salaries salary and the base salary shall be adjusted accordingly.