Common use of MINIMUM ANNUAL SALARY Clause in Contracts

MINIMUM ANNUAL SALARY. (a) The minimum annual and equivalent fortnightly salaries payable to Principals will be as set out in Table 1 – Principals’ Salaries of Schedule A – Monetary Rates. These rates incorporate minimum 3% increases as set out in Clause 15.1(a), in the event CSBB provides for a higher salary review increase these rates will be correspondingly adjusted. The fortnightly rates in the table have been calculated by multiplying the annual salary by 14 and dividing by 365, with the answer rounded to two decimal places. (b) A Principal’s minimum annual salary will be determined in accordance with the following: (i) the Enrolment Band in accordance with subclauses (ii) service as a Principal in a registered school.