1. What does the Federal Education “Jobs Fund” legislation mean for Rockingham County Public Schools? RCPS School Board Retreat October 7, 2010

2. Jobs Fund Purpose: “…..to provide additional funding to states for the support of local teacher (and other school-level personnel) salary and related costs.”

3. Jobs Fund Details: Signed into law 8/10/2010 $10 Billion nationally $249.5 Million to Virginia $2.5 Million to RCPS Anticipate availability of funds 10/1/2010

4. Job Fund Details con’t: Retro-active to 8/10/2010 Must be used by 9/30/2012 One-time funds Funds administered similar to the SFSF Stimulus funds under ARRA.

5. Qualifying uses of these funds: Compensation and benefits to hire new employees Compensation and benefits to retain existing employees To recall or rehire former employees

6. Specific uses listed in the legislation beyond additional hires: Salary increase One-time bonus for employees Health insurance support Retirement benefits Incentives for early retirement Tuition reimbursement Restore reductions in salaries

7. RCPS Review Process will include….. Funding any new positions added since 8/10/2010 Use 1.3 million in FY 2011/2012 to offset loss of SFSF stimulus funds Additional teachers to lower pupil/teacher ratio Employee salary increase Employee supplement/bonus Tuition reimbursement Review division-wide employee/position needs Support health insurance increase

8. Important Note: One time funding……. Ensure a balance – boost employee salary/benefits with addressing school division needs.