Fiscal Year 2017
The FY 2017 Budget was adopted by the Richmond City School Board on May 23, 2016. The School Board budget is increasing $8.9 million, 3.3% overall. The FY 2017 spending plan for the operating budget focuses on establishing internal equity by decompressing our teacher salary schedule. The compression was experienced by many localities across the Commonwealth and was exacerbated by the Great Recession of 2008/2009. We have hundreds of teachers that have been teaching for ten years but still are compensated the same as a first year teacher right out of college; the new decompression teacher salary scales will begin to address this inequity issue. Our 2,300+ teachers are the single most important element in delivering quality instructional to our students.
For those employees on the support salary schedule, the budget includes a 2% mid-year salary adjustment. Additionally, funding will cover mandates such as retirement and group life contributions to the Virginia Retirement System, IDEA set-aside requirements and sequestration, vehicle insurance, and tuition increases for consortium and ancillary programs.
Please visit the Budget and Planning Important Documents & Reports page for more budget information.