Most teachers at Franklin schools will get 6% raises this year, and the minimum salary for a full-time teacher will increase to $42,000 from $40,000.
The school board unanimously approved the new salaries for teachers, along with next year’s $65.9 million budget, up nearly 8% from this year’s $61 million budget, according to district documents.
The $32.7 million education fund covers the salaries and benefits of teachers, classroom assistants, principals and any other employees directly related to building-specific education. The education fund also covers any educational materials, such as science lab materials and any software and licensing teachers need for electronic programs.
The $17.9 million debt service fund covers any projects the district undertakes that haven’t been paid off, including construction of Franklin Community High School, which opened in 2007, and renovations to Franklin Community Middle School, said Tina Gross, the school district’s chief financial officer.
The $10.7 million operations fund covers salaries of employees who aren’t specifically tied to education, such as bus drivers, custodians and food service works, as well as administrators who aren’t tied to a specific school building, such as the superintendent and assistant superintendents, Gross said. The amount budgeted for operations is about $900,000 less than it was last year. The district cut operations costs in a couple of ways, such as leasing to own school buses rather than buying them outright and implementing more energy efficient strategies in its buildings to save on electricity costs, she said.
The final $4.5 million will come from the referendum, approved by voters in 2019. That is more than $1 million more than the district will collect this year due to changes in property values. The referendum money helps pay for teacher and support staff salaries, its school resource officer program and mental health initiatives for students, such as the therapy dog program.
The budget will now head to the Indiana Department of Local Government Finance for approval, which typically takes place toward the end of the calendar year.
