PRINCETON—Three North Gibson teachers are taking early retirement incentives that will apparently keep layoffs off the table in the district next year.
Earlier this year the district learned it would lose about $614,000 from its approximately $13.5 million budget, as Gov. Mitch Daniels ordered a $300 million cut in state school funding.
Districts across the state were encouraged to look at ways to save money in their general funds, which are now supported by state revenue, not property taxes.
Monday night, North Gibson school trustees approved one-time $20,000 early retirement incentives for high school media specialist Tom Key, third grade teacher Carolyn Loveless and kindergarten teacher Diane Tate.
Miller said the library and third grade teacher position will be filled, but he’ll wait to see if enrollment dictates another kindergarten teacher.
The retirements could save the district about $250,000 in salary and benefits, he estimated.
Miller said the district is also saving some general fund money by splitting high school assistant principal/transportation director Steve Hauger’s salary with the property tax-supported transportation fund.
And, a new prescription drug service will save the district about $50,000 to $100,000 in health benefit expenses, he noted.