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The Guilford County Board of Commissioners is scheduled to adopt a budget for 2008-09 at their meeting of June 19, 2008. However, given that (a) the State of North Carolina has not yet adopted a continuing resolution or final budget for fiscal year 2008-09; (b) the Guilford County Board of Commissioners has not yet adopted an interim or final budget resolution for fiscal year 2008-09 as of the issue date of this memorandum; and (c) the Guilford County Board of Education has an insufficient fund balance to operate the school system for fiscal year 2008-09, the following interim budget resolution has been drafted for your consideration.
2008-09 INTERIM BUDGET RESOLUTION
A RESOLUTION AUTHORIZING INTERIM APPROPRIATIONS AND DISBURSEMENTS RESOLVED BY THE GUILFORD COUNTY BOARD OF EDUCATION THAT:
Pursuant to North Carolina General Statute 115C-434 (Interim Budget), the Guilford County Board of Education hereby authorizes the disbursements of such amounts as may be necessary to pay salaries and wages of employees of Guilford County Schools, principal and interest of indebtedness, and all other usual ordinary expenses that may become due and payable during the interval between the beginning of the 2008-09 fiscal year and the adoption of the budget resolution for that year, such expenditures to be chargeable to the proper budget funds hereafter adopted for the fiscal year; and the Board hereby appropriates from the proper funds such amounts as may be necessary for the disbursements authorized by this resolution.
RECOMMENDATION: Until such time as a continuing resolution or final budget is adopted by the State of North Carolina and the interim or final budget is adopted by the Guilford County Board of Commissioners, we recommend approval of this interim budget resolution in accordance with NCGS 115C-434. This resolution is predicated upon (1) the assumption that the district will receive, at a minimum, a county appropriation to the local current expense fund for fiscal year 2008-09 equal to the $165,165,521 amount received for fiscal year 2007-08 and (2) any budget amendments/transfers will be reported to the board of education on a monthly basis and entered into the board minutes.
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