(Richmond, IN)--The Richmond Community School Board this week formally ratified a new contract with the Richmond Education Association, or teachers’ union.  "This is an unprecedented pay increase and I believe it demonstrates our appreciation for our teachers," RCS School Board President Nicole Stults said Tuesday.  CFO Jamie Bolser talked about one of the highlights of the new contract:  "The salary schedule is commensurate with education and years of experience.  On average, there's a ten percent, or $4500 increase with the minimum additional compensation of $1000.  The new contract is a two-year collective bargaining agreement.