News and Information for Gloucester and Mathews, Virginia | Thursday, May 16, 2013 Vol. LXXVI, no. 20 NEW SERIES
subscriber/user login
  • Home
  • About
    • Advertise
    • Subscribe
    • Gazette-Journal Store
    • Contact Us
  • News
    • Gloucester
    • Mathews
    • Business News
  • Opinion
  • Schools
  • Sports
  • Food
  • Obituaries
  • Classifieds
    • Classified Ads
    • Real Estate Ads
    • Place an Ad
  • Real Estate
  • Store
    • Subscribe
    • Find Your Ancestors
    • Books
    • Photo Prints
Home » News

School board adopts $12.395M budget

.(JavaScript must be enabled to view this email address) | Posted on Mar 21, 2012 - 02:58 PM Printer Friendly View

While the Mathews County School Board voted Tuesday night to adopt its 2012-2013 operating budget and forward it to the board of supervisors for consideration, those numbers are bound to change as the General Assembly has yet to approve its own budget.

School board members unanimously adopted the $12.395 million operating budget during the meeting, which was held in the Mathews High School media center.

The proposed budget does reflect one significant change that has come from Richmond, a change involving Virginia Retirement Service payments.

A proposed increase in VRS payments has been one of the major drivers of the budget which has forced the school system to consider layoffs for 27 employees, with the rate going from approximately 8 percent of an employee’s salary to 16.7 percent.

Now, instead of making such a drastic jump, the General Assembly is proposing to increase the school division’s share to 11.66 percent, with employees having to pay the additional 5 percent out of their own paychecks. In order to do this, though, the school division would have to provide "credible compensation" for the money being taken out of their checks, according to Superintendent of Schools David J. Holleran.

On the surface, Holleran said, it would appear to be a wash: the division would pay employees an additional 5 percent and then have VRS take that 5 percent from their paychecks. However, that doesn’t take into consideration such things as FICA payments, he said. As a result, the school division would have to give employees an increase of approximately 6 percent to make up the difference, he explained.

To view this article in its entirety, subscribe here. Already an online subscriber? Login Here

More News:
  • Mathews to roll out red carpet for cyclists
  • Historic Thomas James Store opens to the public
  • VIMS to hold Marine Science Day Saturday
  • Tribute run has coincidental stop in Gloucester
  • Gloucester Relay to be held this weekend
Virginia Waterfront Homes For Sale

Support our advertisers

www.Hoggerealestate.com www.gloucestermontessori.org

Subscribers

  • Log in

Pages

  • News
  • Sports
  • Schools
  • Food
  • Churches
  • Business
  • Opinion
  • Events
  • Classifieds
  • Real Estate
  • Obituaries
  • Gazette-Journal Store
  • Photo Prints
  • Weather
Latest Gloucester, Virginia, weather

Links

  • Subscriptions
  • PDF Subscriptions
  • Place an Ad
  • RSS News Feed
  • VA News
  • Printing Services
  • Find Your Ancestors
  • Advertise With Us
  • About Us
  • Newspapers in Education
  • Having trouble with this site?
  • How to Place a Notice
  • Contact Us
  • facebook
    twitter rss

    Special Sections

    weather

    Quick Links

    • Advertise With Us
    • Place a Classified Ad
    • Find Your Ancestors
    • Place a Notice
    • Printing Services
    • Purchase Photo Prints

    Recent Posts

    • Sen. Kaine’s representative to visit Middle Peninsula
    • Mathews to roll out red carpet for cyclists
    • Historic Thomas James Store opens to the public
    • VIMS to hold Marine Science Day Saturday
    • Tribute run has coincidental stop in Gloucester
    • Gloucester Relay to be held this weekend

    Subscribers

    • Log in
    • Download Past Issues (PDF Archive)
    • May, 2013 Archive
    • April, 2013 Archive
    • March, 2013 Archive
    • Subscribe Today!
    Gloucester Mathews Gazette-Journal, 6625 Main Street, P.O. Box 2060, Gloucester, VA 23061 Phone: (804) 693-3101
    © Copyright 2011-2013, Tidewater Newspapers, Inc. All Rights Reserved. | Sunday, May 19, 2013 - 10:51 pm