RCPS School Board Retreat What does the Federal Education “Jobs Fund” legislation mean for Rockingham County Public Schools? RCPS School Board Retreat October 7, 2010
Jobs Fund Purpose: “…..to provide additional funding to states for the support of local teacher (and other school-level personnel) salary and related costs.”
Jobs Fund Details: Signed into law 8/10/2010 $10 Billion nationally $249.5 Million to Virginia $2.5 Million to RCPS Anticipate availability of funds 10/1/2010
Job Fund Details con’t: Retro-active to 8/10/2010 Must be used by 9/30/2012 One-time funds Funds administered similar to the SFSF Stimulus funds under ARRA.
Qualifying uses of these funds: Compensation and benefits to hire new employees Compensation and benefits to retain existing employees To recall or rehire former employees
Specific uses listed in the legislation beyond additional hires: Salary increase One-time bonus for employees Health insurance support Retirement benefits Incentives for early retirement Tuition reimbursement Restore reductions in salaries
RCPS Review Process will include….. Funding any new positions added since 8/10/2010 Use 1.3 million in FY 2011/2012 to offset loss of SFSF stimulus funds Additional teachers to lower pupil/teacher ratio Employee salary increase Employee supplement/bonus Tuition reimbursement Review division-wide employee/position needs Support health insurance increase
Important Note: One time funding……. Ensure a balance – boost employee salary/benefits with addressing school division needs.