What are the associated cost savings with the employee discount for community education programs?
The cost of the current employee discount structure operates at a loss of over $400,000 annually, only benefitting approximately 10% of all employees. Current staff discounts for Kids Club, After Hours, and Community/Signature Preschool are offered at rates up to a 75% discount.
- The current model is reflective of an increase in the discount that occurred in 2015-16 to offset the financial impact of years when salaries were frozen.
- The current model requires additional staffing to manage the taxable income compliance requirements for any discount in excess of 20%.
- Three options were reviewed in the January 8 Board presentation, showing estimated annual budget savings. These options and related values may be adjusted with final Board approval and employee participation.