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- News Archives: 2010-2017
Board Approves Interim Budget, Restores Funding to Schools
The Guilford County Board of Education approved to return to schools approximately $4.7 million in funds previously identified as reductions or redirections for 2011-12.
About $3 million in Weighted Student Formula dollars and about $1.7 million from the teacher allotment formula adjustment to increase class size by 0.25 students in grades K-12 will be restored to schools for next school year. These were previously identified as tier two cuts in the superintendent's budget proposal.
Additionally, the board approved to remove the proposal of a two-day pay reduction for employees earning $35,000 or more from consideration in the final budget. This had been identified as a tier three cut to be used only as a last resort.
GCS had prepared for a potential $35.6 million cut in state funding. After initially reviewing the budget adopted by the state, district staff estimate the impact to be about $14.3 million. Staff also estimate an increase of about $4 million in sustaining operations costs for the 2011-12 school year.
Staff will seek final approval of the 2011-12 budget at the next scheduled board meeting on July 13. In the meantime, the board approved an interim budget resolution that will allow the district to operate in the new fiscal year until a final budget is adopted. The interim budget authorizes the district to pay employee salaries, principal and interest on debt and other ordinary expenses between July 1 and the adoption of the final budget