OXFORD â The Board of Education, meeting Tuesday, May 11, voted to use Option D of reductions towards the budget plans, which includes a retirement incentive for qualified staff members.
The Board of Finance approved a $700,000 budget increase for the Board of Educationâs 2021-22 budget proposal, instead of the school boardâs $1.2 million request. The school board needed to make a $500,000 reduction and went with Option D as presented by Superintendent Dr. Jason McKinnon, which offered $560,012 in total budget savings and also included a retirement incentive.
The incentive encourages qualified staff members to retire to be replaced by newly hired teachers who will start at lower salaries. Dr. McKinnon noted the choice will provide significant savings to the budget. School officials identified three staff members who qualify for the incentive.