The Lafayette School Corporation and its teacher’s union have a new contract in place.
The two sides came to terms on a one year deal.
Superintendent Les Huddle says the agreement is the result of a collaborative negotiation process.
“It was through a lot of hard work from the board negotiating team and a lot of hard work also on the teacher's bargaining team, too. They put in as much time as anyone," he said. "We are pleased with it and we have been informed that (the LEA) ratified it, so we will move on with this year and wait for next year.”
The deal includes a two-percent stipend for all employees.
Huddle says it will cost the district between $600,000 - $700,000.
Chief Financial Officer Eric Rody says the expense is in the budget.
“It is, what you might call, a lump sum payment based on what their annual wage or salary would be for this school year," said Rody. "We have an increase in our student count this year that will make for some additional revenue for next year and this is how we chose to work it.”
Employees will receive the bonus in two payments with the first coming in December and the other in June.
LSC also came to terms on a contract with the Local 2601, which provides maintenance services.
It’s a three year agreement, but members have the option to renegotiate salary and benefits next year.