About 2,800 Fulton County teachers will get a 2 percent raise this month.
The January pay hike, which will cost the district about $1.6 million, will be given to teachers with mid-range experience, or roughly 40 percent of the district’s total number of teachers.
The district’s salary schedule includes more than 25 “steps;” and the pay raise will go to teachers who are on steps four through 14.
The raise will boost the salary of a step-four teacher with a bachelor’s degree from $45,696 a year to $46,608, according to district salary schedules. On the higher end, a step-14 teacher with a doctorate degree will see their annual salary increase from $74,544 to $76,032.
The school board on Thursday approved mid-year budget adjustments to make up for a decrease in tax revenue largely caused by a millage-rate reduction.
The district will use about $12.8 million in fund balance to cover the revenue decrease and other mid-year budget adjustments.
The district ended last fiscal year on June 30 with a fund balance of more than $208 million.
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