Campbell River District Teachers' Association

School District 72

BETWEEN:

BRITISH COLUMBIA PUBLIC SCHOOL EMPLOYERS’ ASSOCIATION

AND

BRITISH COLUMBIA TEACHERS’ FEDERATION

 

Re: Fiscal Dividend

 

Having agreed to a collective agreement term of July 1, 2006 to June 30, 2011, a Fiscal Dividend Bonus may be paid from a one-time fund (the “Fund”) generated out of monies, in excess of $150 million, surplus to the BC government, as defined in the Province’s audited financial statements, for the fiscal year 2009-10.

 

  1. a. If fiscal dividend funds are determined to be available, upon receipt of funding from the BC government, a fiscal dividend will be paid to employees as soon as practicable for the school district to calculate individual payment amounts and distribute the funds.

 

The Fund will be determined as follows:

 

    1. i. The calculations will be based on the surplus, as calculated before deduction of any expense associated with the Fiscal Dividend Bonus, achieved in fiscal 2009-10, as published in the audited financial statements for that fiscal year, provided that the surplus is in excess of $150 million.
    2. ii. Only final surplus monies in excess of $150 million will be part of the Fund, and the total quantum of the Fund for the entire public sector (including all categories of employees) will not exceed $300 million.
    3. iii. The quantum of the Fund will be constrained by the proportion of the public sector that is eligible to participate in the Fiscal Dividend Bonus i.e., 100% of the Fund will be available if 100% of all categories of employees in the public sector under the purview of the Public Sector Employers’ Council participate, but if a lesser number participate, a proportionately lesser amount of the Fund will be available. 

    iv. Additionally, the Fund will be proportioned among all groups of public sector employees by ratio of group population to total population participating.

     

    b. The manner of allocation of the Fund monies to employees shall be subject to negotiations between the BCTF and BCPSEA.

     

    Original signed by:

     

     

     

     

    Jinny Sims

     

    Jacquie Griffiths

    BCTF President

     

    BCPSEA Chief Negotiator

    CRDTA

    Phone: 250-286-1663

    Fax: 250-286-1679