- Last Updated on Wednesday, 06 June 2012 14:11
- Published on Wednesday, 06 June 2012 14:11
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SALARY & BENEFITS
Benson’s starting salary is $134,400 for the first year along with additional benefits noted in his nine-page contract, including $5,000 per year to an annuity or deferred compensation plan. In addition, there is a complicated formula to convert unused vacation and sick leave towards Benson’s annuity at the end of each contract year.
- Last Updated on Wednesday, 29 February 2012 00:09
- Published on Wednesday, 29 February 2012 00:09
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School budget still projecting deficits
The King George Board of Supervisors last week reviewed monthly financial reports for the School board for the current year with actual figures plugged in through the end of January and projected expenditures used for the remainder of the 2011-12 fiscal year, which ends on June 30.
The finance report on Feb. 21 was provided by Donita Harper, King George’s deputy county administrator and director of finance.
- Last Updated on Wednesday, 22 February 2012 19:30
- Published on Wednesday, 22 February 2012 19:30
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Refinancing school debt will save $3,000,000 on debt service
The King George Board of Supervisors agreed in concept last week to go forward with refinancing two chunks of school debt, adding up to nearly $33 million, to save nearly $3 million on debt service. That is expected to happen by getting a loan with a lower interest rate while keeping the existing payback date of 2036.
Supervisors will likely be provided a resolution next month for their approval when Davenport & Company LLC comes back with additional details.
As part of its service as financial consultants to the county, Davenport routinely
- Last Updated on Wednesday, 22 February 2012 19:19
- Published on Wednesday, 22 February 2012 19:19
- Hits: 318
The King George School Board held a special meeting last week on Feb. 16 to discuss its upcoming superintendent search. Four members were present to meet with a representative from the Virginia School Boards Association (VSBA), with Rick Randall missing the meeting.
Following the two-hour meeting to learn about the process of hiring a new superintendent, the group provided a press release to mark the event which also
- Last Updated on Tuesday, 14 February 2012 23:20
- Published on Tuesday, 14 February 2012 23:20
- Hits: 910
The King George School Board unanimously voted this week on Monday, Feb. 13, to implement 2 percent raises for all contracted employees retroactive to Jan. 1 of this year.
The last time division employees received a pay hike was nearly four years ago, in July 2008. Raises have been on hold since that time due to the beginnings of the sliding economy, which remains sluggish overall, but is particularly affecting states and localities going forward into the next fiscal year, which begins July 1.
That’s because state and local tax revenues are decreasing and two-year federal stimulus dollars
- Last Updated on Tuesday, 31 January 2012 23:29
- Published on Tuesday, 31 January 2012 23:29
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The King George School Board kicked off its search for a new superintendent this week opting to select the Virginia School Boards Association (VSBA) to assist with its services to recruit superintendent candidates. The unanimous action took place at Monday’s meeting on Jan. 23.
VSBA’s cost is set at $7,500 plus expenses. That base fee of $7,500 is set according to the student enrollment of the division. Additional expenses are estimated at between $1,000 and $2,000 and would include such things as costs for travel, mailings, telephone calls and