The Pleasanton School Board is expected to approve a $115 million budget for the upcoming school year that includes more than $750,000 in deficit spending in its meeting tonight.
Both the total budget and the deficit spending are down from the current year, which ends June 30. This year, the total budget was more than $117 million, and the district spent $1.4 million more than its total revenues.
No one from the district was available Monday to answer how the deficit spending was to be made up.
Among the items included in the new budget is a one-time, 1% bonus for teachers and increases in stipends for those who have a master's or doctorate degree. Those stipends will go from $500 to $750 for master's degrees and from $600 to $750 for those with doctorate degrees. Those with specific board certifications will also receive a stipend increase from $500 to $750 a year.
The new budget also would increase the highest pay for longtime teachers from $98,045 to $99,000 a year.
The district expects to spend more than $1.3 million for stipends, bonuses and other compensation for the upcoming year.
Also part of the new budget is $500,000 for medical insurance through CalPERS. Future payments to CalPERs medical insurance would be in lieu of pay increases or other compensation for teachers.
The board is also expected to approve contract extensions for Superintendent Parvin Ahmadi, Deputy Superintendent Luz Cazares, and assistant superintendents Bill Faraghan and Odie Douglas. Those extensions do not include pay increases other than what may have already been included in their contracts.
Also at its meeting Tuesday night, the board will consider a plan to refinance outstanding bonds, reducing the amount homeowners pay. It's estimated the refinance of bonds could save homeowners $1.21 per $100,000 of assessed value.
The open portion of the meeting begins at 7 p.m. in the district board room, 4665 Bernal Ave.