Teachers of Cary Elementary District 26 have reached a tentative agreement with the school board to amend and extend its contract, officials said Tuesday.
The terms of the agreement include a one-year extension to the current three-year contract, which would have expired at the end of the 2016-2017 school year, according to a news release from the school district.
Additionally, the amendment to the contract calls for a 3 percent salary increase in 2016-2017, officials said. In 2017-2018, teachers will receive a one-time lump sum stipend of 0.5 percent, in addition to a 2.5 percent salary increase.
The district's insurance program, as well as a 5 percent end-of-career raise for a retiree's last year of employment, remain the same.
School board President Scott Coffee commended both parties for working collaboratively to reach the agreement.
"The board is confident that this new agreement is affordable and ensures the district continues to live within its financial means," he said. "This also provides the district with known expenses over the next two years as it works to navigate its way through the unstable and uncertain financial indecisions at the state level."
The Cary Education Association, the teachers union, ratified the agreement Friday, and the school board is expected to vote on the measure Monday.
"This joint effort resulted in a positive outcome and demonstrates the two parties' ability to work together successfully," Annette Bear and Lori Charbonneau, co-presidents of the union, said in a statement.