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Fiscal impact

anonymous    10/09     243    
4.0/1 

FISCAL IMPACT

If the Board approves this contract amendment, the cost for Ms. Hendricks will be $68,074 more over the next nine months as our Interim Superintendent; this is equivalent to an annual salary of $295,000. Her car allowance will remain the same at $450/month. In addition, if needed we may engage Ms. Hendricks to work up to ten days more than her contract at a rate of $1,317 per day.

 

While Ms. Hendricks acts as Interim Superintendent, we may engage an Interim HR Director to assume most of her current duties. We can consider a budget of up to $100,000 to cover these costs.

 

Below is a summary of an estimate of the overall cost of the prior Superintendent’s resignation and this interim leadership model.

 

The cost of the interim leadership model is ~$68k for Ms. Hendricks plus $100k for an Interim HR Director

$168k

The cost of Dr. McGee’s resignation agreement including a lump sum six month pay out and three months of benefits costs ~$161k.Any gain or loss on the sale of the townhome on which he has transferred title to the District is yet unknown.

 

$161k

Cost

$329k

The savings of ending Dr. McGee’s contract nine months early including his salary, benefits, and car allowance are ~$286k.

Savings

 

 

$286k

Net Cost

$43k