The Del Mar Union School District board approved a balanced 2019-20 budget at its June 26 meeting, following the approval of the collective bargaining agreement with the Del Mar California Teachers Association that resulted in raises for certificated and classified staff as well as management.
The agreement includes a four percent off-schedule bonus for 2018-19 which will become on-schedule for the 2019-20 school year along with an additional 2 percent salary increase.
The total estimated increase in compensation, including benefits, is estimated to be $1,622,400 for the 2018-19 fiscal year and $2,928,500 for the 2019-20 fiscal year.
With its balanced budget of $61,594,256 in expenditures and revenues, the district is projecting a $12.2 million ending reserve balance, which represents a 20.9 percent reserve.
Assistant Superintendent of Business Services Cathy Birks said the district’s vision, “the unrelenting pursuit of the extraordinary school experience,” guides the budget development and how they use their resources.
“We maintain a fiscally-sound reserve balance for a community-funded school district and we have a continued commitment to proactive fiscal planning,” Birks said.