Pay increases for the job will be linked to raises granted to the teaching staff.
By HAROLD GWIN
VINDICATOR SHARON BUREAU
FARRELL, Pa. -- The Farrell Area School District's new business manager has been awarded a three-year contract, but just how much he will be paid is still up in the air.
Michael H. Stabile of Sharon was hired as business manager in December, succeeding Ronald Pendel, who retired in September after 13 years of service.
Stabile officially began his duties Jan. 2 at a salary of $48,000 a year.
The school board formally awarded him a three-year contract Monday, but the pact doesn't begin until July 1 of this year and runs through June 30, 2006.
Though Stabile's salary remains based on the $48,000 annual figure, raises will be linked to the same percentage increase that the district's teachers get each year during his tenure, said Superintendent Richard Rubano.
Farrell teachers are in negotiations now for a contract to take effect July 1.
The school board also approved giving the office of Farrell tax collector a $1,250 annual raise beginning Jan. 1, 2004.
The post serves the school district, the city of Farrell and Mercer County, all of which will share in the raise.
City council approved the increase from $27,050 to $28,300 a year earlier this month. County commissioners have yet to act.
Rubano said the school district's share of the increase will be about $416 a year.
The tax collector also is the elected Farrell city treasurer, a job that pays just $2,400 a year. The salary for that position isn't being changed.
In other business, the school board announced that, despite its tight financial condition in recent years, the Standard & amp; Poor's bond rating service has given the district a triple A rating for any future borrowing through a bond issue.
A triple A rating is the best rating available, guaranteeing the district the lowest possible interest rate on money it might borrow.
The district had a single A rating from S & amp;P before this, Rubano said.
Farrell doesn't owe a lot of money, he added, noting the total debt service now stands at just under $2.4 million.