SPRING LAKE — The Spring Lake Board of Education paid former superintendent Raymond Bocutti just over $110,000 under a recent separation agreement between the two parties.
The separation agreement, along with Mr. Bocutti’s resignation, was announced last month at a special board meeting on July 15. The board, due to the agreement, could not comment or speak about its details.
A copy of the confidential agreement received by The Coast Star states the board paid Mr. Boccutti $109,856,88, nine months of his existing salary, along with 1.5 unused vacation days amounting to $826.92; bringing the lump sum to $110,683.80.
According to the agreement, the district followed state Administrative Code 6A:23A, Fiscal Accountability, Efficiency And Budgeting Procedures, affirming the agreement has to be “in the best interests of the school district’s students and/or operations.”
In the code, termination agreements containing compensation for separation cannot exceed the “lesser of the calculation of three months’ pay for every year remaining on the contract.” The amount could not exceed 12 months.
This is an excerpt of the print article. For more on this story, read The Coast Star—on newsstands Thursday or online in our e-Edition.
Subscribe today! If you're not already an annual subscriber to The Coast Star, get your subscription today! For just $30 per year, you will receive local mail delivery weekly, with pages and pages of local news and online access to our e-edition on Starnewsgroup.com.