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ment to get the same state aid would mean hiring more teachers, Dr. Gangel said. “Numbers [of students] won’t save you in this situation.”
In addition auditors have suggested the state change from a “pay as you go” to a “pre pay” system for funding cost of living increases for state employees when they retire in the state system. The retirement system covers virtually all school system employees. Such a change should enable the state to get a higher bond rating and perhaps reduce the interest it has to pay on bonds.
What is not known is how the upre pay” system will be funded. Will the state pick up most of the cost of this change or will the localities be required to fund it? If the county has to pick up all of the increased cost, for the current payroll that would be an additional $138,900, Dr. Gangel said.
He noted that the schools do not usually know until the last day the General Assembly is in session how much revenue they will be receiving from the state. “My perspective is if you are budgeting, you can’t do anything but accept the worst case scenario,” he said.
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