The Boulder Valley School District’s budget for the upcoming school year includes smaller-than-typical raises for employees but no big cuts to programs or services.

The school board at its Tuesday meeting approved next year’s $493.8 million general fund budget and an updated agreement with the teachers union, the Boulder Valley Education Association. The agreement includes a 0.6% one-time salary stipend paid over 12 months and a one-time, 1% retention stipend for all returning teachers.

Along with a salary increase, the teacher contract includes a commitment to negotiate a more sustainable salary schedule. The salary schedule outlines the raises teachers receive for additional years of experience and education.

District officials point to a new state funding formula and declining enrollment as the main reasons for this year’s tighter budget, which includes fewer teachers and other employees to reflect continued enrollment declines. Boulder Valley is projecting a loss of about 175 students next school year, for a total enrollment of 27,738 students.

Revisions since the school board last heard an update on the budget include about $200,000 in ongoing money to cover a shortfall in federal money for special education students.

About $4.2 million in one-time money also was added for staff compensation. The cost-of-living raise for district employees, other than teachers, was increased to 1% from the previous .6%.

The district previously earmarked about $13.6 million in one-time money for targeted literacy and math support, staffing for special education classrooms, bilingual education support, classroom teachers, textbooks, translation services and extra support for high-needs schools. An additional $2.3 million in one-time money will go to technology projects, building maintenance and inflation increases for utilities and various insurance premiums.