Fulton Public Schools faculty will receive a pay raise for the 2012-13 school year.
The Fulton School Board approved a recommendation from Superintendent Jacque Cowherd to increase teachers' base pay by $500, and at the same time decrease the health insurance deductible from $2,500 to an amount not to exceed $2,000.
Cowherd made the recommendation during his brief update on the 2013 budget. He said that because the district was able to hold back local tax revenues in reserve due to federal stimulus funds, the district still is doing relatively well fiscally.
"As we look forward, I think we're in pretty good shape because of the federal stimulus funds, and because our budgetary managers - building principals and department heads - are so tight they squeak," Cowherd said. "We are not spending money on anything that isn't absolutely necessary.
"We have not given raises in a couple years, and ... I believe we have the flexibility to do some salary increases this year."
Cowherd then made the above proposal, noting that it also would add approximately $3,000 to the extra duty schedule.
The school board voted unanimously to approve Cowherd's proposal.
In other positive financial business, Cowherd gave the board an update on the 2010 Bond Issue. He reported that out of the $7.33 million in bond money, the money spent on completed projects at this point is $5.7 million.
"The estimate for the summer projects is just over $500,000," Cowherd said. "The original list of (bond) projects will be done at the end of this summer, so I believe we'll have just over $1 million left that are unallocated funds."