Financials
Budget cuts
NUSD faced a number of factors that led to the need to make $3.2 million in budget cuts this year, among them: 1) a decline in enrollment over many years, 2) increases by the state in STRS/PERS retirement costs, 3) the use of reserves to maintain programs. Thankfully, we were able to make budget adjustments with minimal increases in class size and with no employee losing his or her job.
NUSD faced a number of factors that led to the need to make $3.2 million in budget cuts this year, among them: 1) a decline in enrollment over many years, 2) increases by the state in STRS/PERS retirement costs, 3) the use of reserves to maintain programs. Thankfully, we were able to make budget adjustments with minimal increases in class size and with no employee losing his or her job.
Rising PERS and STRS cost.
Newark Unified is facing ever increasing retirement costs for its employees. Changes in the State pension programs for school employees mean that by 2023, the contribution from school districts will climb to 28%; in 2013-14 the contribution was 8%. This is creating problems for school districts across the state.
Newark Unified is facing ever increasing retirement costs for its employees. Changes in the State pension programs for school employees mean that by 2023, the contribution from school districts will climb to 28%; in 2013-14 the contribution was 8%. This is creating problems for school districts across the state.