The Lakewood Board of Education at its March 6 meeting unanimously approved a two-year contract extension with the Lakewood Teachers Association. The agreement, which ends on July 31, 2020, includes a 2.5% base salary increase for the 2018-2019 school year. A similar increase is slated for the 2019-2020 school year depending on the District’s funding level in the next biennial state budget.
The second-year raise is contingent on the District not receiving funding cuts of more than $200,000 in the budget currently under consideration by the state legislature. If the contingency is not met for the second year, the agreement will expire on July 31, 2019 and the two parties will meet by Sept. 1, 2017 to discuss the terms for a possible extension. The biennial budget must be approved by July 1, 2017.
Treasurer Kent Zeman informed the Board that the salary increases fall well within the District’s five-year forecast parameters and will not harm the fiscal soundness of the District.
The extension also includes a new health care option that offers a higher deductible plan. The employee contribution for all health care options remains at 15%.
“This extension is an example of how our Board of Education values and appreciates our teaching staff,” said Superintendent Jeff Patterson.