To:

Members, Board of Education

From:

Maurice O. Green, Superintendent
Sharon S. Ozment, Chief Financial Officer

Date:

June 19, 2009

RE:

2009-10 Interim Budget Resolution

The Guilford County Board of Commissioners adopted a budget for 2009-10 at their meeting of June 4, 2009. However, given that (a) the State of North Carolina has not yet adopted a continuing resolution or final budget for fiscal year 2009-10 and (b) the Guilford County Board of Education has an insufficient fund balance to operate the school system for fiscal year 2009-10, the following interim budget resolution has been drafted for your consideration.

2009-10 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 2009-10 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: The administration recommends that the board approve this interim budget resolution in accordance with NCGS 115C-434 until such time as a continuing resolution or final budget is adopted by the State of North Carolina. This resolution is predicated upon all budget amendments/transfers being reported to the board of education on a monthly basis and entered into the board minutes.