Nevada Revised Statutes Title 34. Education § 391A.455. School district required to reserve certain amount of money for program; written notice of reservation of money; requirements for accounting and use of money reserved

1. The board of trustees of each school district shall reserve for each fiscal year, for the purposes of the program of performance pay and enhanced compensation established by the board of trustees pursuant to NRS 391A.450, an amount of money sufficient to provide an increase in base salaries, not including monetary benefits, for not less than 5 percent of the teachers and administrators employed by the school district. The amount of the increase must not exceed 10 percent of the annual base salary of each teacher and administrator to whom the increase is paid.

2. After making the reservation required by subsection 1, the board of trustees shall provide written notice of its action to the Department and the State Board, with information about the amount of money reserved and the increase in salaries to be paid. The State Board shall review that information at a meeting of the State Board.

3. Except as otherwise provided in subsection 4, the money reserved by the board of trustees pursuant to subsection 1:

4. Any money reserved pursuant to subsection 1 for a fiscal year that remains in the account established pursuant to subsection 3: