How does the state “McCleary levy swap” affect the resources available for VAESP classified employee salaries and benefits?

• VAESP’s proportionate share of the new state revenue is just over $2.7 million.
• However, this amount is offset by the district’s loss of local levy and levy equalization funds. VAESP’s proportionate share of the loss is $880,081 in 2018-19 and $1,619,781 in 2019-20.
• As a result, the revenue available for VAESP classified salary improvements is approximately $1.3 million per year over four years.
• Additional improvements would require budget cuts.
  • Reductions would be in addition to the $9.1 million in budget cuts needed to cover the shortfall in 2019-20 due to the recent Vancouver Education Association contract settlement.

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