Putnam City Schools Offer Buyout to Employees to Cut Costs

By Jennifer Pierce, NEWS 9

PUTNAM CITY, Oklahoma -- Like most Oklahoma school districts Putnam City is facing a $4.7 million shortfall and officials expect it to be even more next fiscal year.

The district came up with three ways to save money and instead of fighting the cuts employees welcome them.

Putnam City Elementary principal Vivian Grigsby is answering the call to help ease the district's budget crunch.

"I'm very worried about the students' needs being covered; I worry about teacher jobs," Grigsby said.

That's part of the reason she signed up for the Voluntary Separation Program. Grigsby is not the only one nearing retirement who decided to take the buyout.

The long-time educator says it wasn't an easy decision.

"It was a decision I really wrestled with," Grigsby said.

But it was a decision she knows will save the schools money.

"The voluntary separation program we estimate will save the district somewhere between $600,000 and $1.8 million depending on how many people take advantage of it," said Steve Lindley with Putnam City Schools.

Besides that, support staff is taking voluntary furlough days. The voluntary furlough days are a money-saving idea brought to the school board by concerned employees.

"At this point our support employees have offered 432 furlough days voluntarily, which will save the district about $48,000," Lindley said.

And then there are the mandatory furlough days for administrators.

"Because we are taking those furlough days it saves at least three teachers in our district salaries," Grigsby said.

More than 60 employees signed up for the retirement incentive, Wednesday. The district needs at least 80 to participate.

Employees taking the retirement incentive will receive $400 a month for three years. Those eligible have until March 26 to sign up.