Executive Solution Overview
**Part 1: Overview** You are holding a workshop for all principals and their financial operations managers to review how compensation is calculated for principals, instructional coordinators/assistant principals, and teachers, per the U.S. Department of Education guidelines that include base salarie…
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**Part 1: Overview**
You are holding a workshop for all principals and their financial operations managers to review how compensation is calculated for principals, instructional coordinators/assistant principals, and teachers, per the U.S. Department of Education guidelines that include base salaries, benefits, and retirement pensions.
_You will use the U.S. Bureau of Labor Statistics median salary levels for this activity_:
– Principals: $98,490
– Instructional coordinators: $66,970
– Teachers:
– Elementary: $60,660
– Middle school: $60,810
– High school: $62,870
– Special education: $61,420
**Create** an Excel spreadsheet that lists: roles, salary, number of people in each role, and total expenditure for each role.
Calculate the total salary expenditure for your local school (choose either 1 elementary, middle, or high school).
**Part 2: Health Insurance Benefits**
**Use** the roles in your answer to Part 1 of this assignment to calculate the total cost of health insurance for the principal, instructional coordinators/assistant principals, and teachers serving that school. Health benefits are to be calculated at $10,598 / person.
**Calculate** the health benefit costs for the school you are studying and add the total expenditures for health benefits to your Excel spreadsheet.
**Part 3: Retirement Funds**
Principals, instructional coordinators/assistant principals, and classroom teachers accrue (collect) $9.22 / hour of work (8 hours/day) x (times) 180 instructional days.
**Calculate** the total amount of retirement fund accrual for each role in Part 1.
**Add** the total amount of retirement accrual for all the roles listed and add that amount to your spreadsheet.
**Part 4: Total Expenditures**
– Salary
– Health insurance
– Retirement funds
**Add** the total costs of the individual role and list those on your Excel spreadsheet: Salary + Health Insurance + Retirement Funds
**Multiply** the individual cost totals x the number of people in each role group.
**Calculate** the total expenditures for salary, health insurance, and retirement funds for the school you studied and add the total expenditure to your Excel spreadsheet.
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