Friday, October 19, 2012

What Does Fiscal Responsibility Look Like?

At a meeting on September 19, 2012, the school board in Quincy, Illinois (Quincy Public School District #172) passed resolutions stating that they were going to end the all too common practice of end of career salary bumps for district personnel (you can read the resolutions here).  In the resolutions, the Quincy school board stated their reasoning for this move.  The resolutions state that "the [Board of Education] believes the practice of pre-retirement compensation increases to staff members is a contributing factor to the current economic crisis of the [Teachers' Retirement System]" and further that "the [Board of Education] believes it fiscally appropriate to work for the expeditious elimination of such pre-retirement compensation increases as they exist today within the Quincy Public Schools, in order to strengthen the financial condition of the Quincy Public Schools, contribute to the strengthening of the [Teachers' Retirement System] and contribute to the financial integrity of any other retirement systems affected by such increases."

So, at least one Illinois school board is considering the affect that their actions have not only on their own school district (and, therefore, local taxpayers) but on the pension systems as a whole (and, therefore, participants in the pension systems as well as local and state taxpayers).  But, we must keep this in perspective, since these glimpses of fiscal responsibility are few and far between.

For a refresher on our own school board's actions with regard to these matters, see here, here and here.

No comments:

Post a Comment