As the financial leader for Minneapolis Public Schools for the past six years, my job has been to ensure that the dollars taxpayers have invested in their children's public education are used wisely. My job is also to make sure that our current financial management ensures we are fiscally robust for our future students.
"Flush with cash" is a dangerous and irresponsible phrase to toss around, as it was in "Educators are striking for safe, stable schools" (Opinion Exchange, March 15). This indicates a myopic approach to the financial health of this 150-year-old institution.
I am proud that today the MPS Unassigned Fund Balance stands at approximately $55 million after years of subpar totals well below the board-required minimum of 8% of the MPS operating budget. MPS also maintains an Assigned Fund Balance of approximately $52 million for targeted and specific purposes such as a planned near-future curriculum adoption or a second or third year of a multiyear funding.
Any healthy public institution maintains well-funded balances both for purposes of emergency needs as well as to ensure a strong bond rating.
Yes, MPS is slated to receive some $261.5 million from the federal government to mitigate the impact of COVID-19. MPS is, in fact, investing $190.5 million of those resources back into our students, schools, programs, and health and safety measures. No well-managed organization would use one-time dollars to increase ongoing salaries knowing those funds will end in two years.
The most recent MPS salary proposal to the Minneapolis Federation of Teachers (MFT) would:
- Increase the average teacher salary in the district to over $75,000.
- Increase the starting salary for our newest teachers above $50,000, one of the highest starting salaries in the state.
Since the 2% annual cost-of-living adjustments MPS has offered through negotiations are in addition to the step increases teachers automatically receive every year, the amount paid to our teachers would increase, on average, by about 4% annually in both years. Additionally, we have offered a one-time $2,000 bonus to each and every teacher.
Our education support professionals (ESPs), on the other hand, include some employees with salaries below what they should be. We acknowledge that, and for that reason, MPS has proposed an annual cost-of-living adjustment of as much as 8% in the first year, 3% in the second year, and a "step" increase that will further improve wages for most of our ESPs by around 4%. We have also offered a $3,000 bonus to be paid to all our ESPs upon contract ratification.