Rocky View Schools (RVS) Superintendent of Schools Greg Luterbach received a stamp of approval Nov. 2 when it was announced his employment contract with the division would be extended two years to 2021.
“After doing a performance evaluation and review of Superintendent Luterbach last spring, the board very strongly wanted to offer a longer extension of that contract to its five year limit,” Board Chair Todd Brand said.
Luterbach was originally hired on a three-year contract in 2016. A recommendation to extend that contract was submitted to the minister of education for ministerial approval, according to Brand.
Deputy Minister of Education Curtis Clarke recently wrote to the board indicating Minister of Education David Eggen had given his approval.
“I’m really pleased to read that letter,” Brand said. “I think we all want to congratulate Superintendent Luterbach and are looking forward to his leadership over this term.”
The Board of Trustees unanimously approved a recommendation made by staff to renew the borrowing resolution currently in place between RVS and Alberta Treasury Branches (ATB) at its regular meeting Nov. 2.
According to Associate Superintendent of Business and Operations Darrell Couture, the division has had this resolution in place since 2010, which allows it to cover teachers’ salaries during the months of July and August.
These salaries are paid to teachers on June 30, however, Couture said operating funds from Alberta Education are dispersed in 12 equal monthly payments midway through each month, leading to the division having a period of time where it needs greater cash flow.
RVS typically maintains a line of credit at ATB for $5 million. Couture said the borrowing resolution increases this amount to $10 million for the period from July 1 to 15 – the time frame during which RVS covers two months of salaries for teachers. The credit line is paid back once funds from Alberta Education are received July 15 and August 15.