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12 <br /> State Cash Flow Emergency <br /> •State funds cannot be used to <br /> —Fill vacancies other than teachers and principals <br /> —Pay for goods not received as of April 16 <br /> —Travel within or outside of the district <br /> •Local costs cannot be transferred to state budget codes <br /> •District is following similar rules for local funds <br /> •Today, Governor Perdue announced that state employees will be furloughed and their <br /> annualized salaries will be reduced by 0.5% for remainder of the year. <br /> Gregory McElveen commended the Board of County Commissioners for all the monies <br /> that have been committed to the Town and the County and trying to maintain a revenue neutral <br /> funding. He suggested that the Board maintain the policy of the revenue neutral funding. <br /> Jamezetta Bedford said that she supports Commissioner Jacobs' suggestion about <br /> having the flexibility to use recurring capital. She said they are doing tiers of cuts because of <br /> the severity of cutting jobs. She said that if the target of 48.1% includes no debt service, then <br /> the capital side needs to be more equitable between the districts. She said that her <br /> understanding is that when a school has to be built, either private debt or bonds have been <br /> issued and the County has funded this separately. She said that she is telling the parents in her <br /> district that the Carrboro High Arts wing is #2 on the unfunded list. She said that the County <br /> Commissioners have told the school board the amount of money to be given, and the school <br /> board chooses how to spend it. She said that they need clarity on the process and the amount <br /> for the Carrboro Arts wing. <br /> Chair Foushee said that, fundamentally, it has a lot to do with the County's debt policy <br /> and the ability to borrow money. <br /> Commissioner Nelson said that he was equally confused about getting emails from <br /> CHCCS parents about the arts wing, and the County is looking at reductions too. He said that <br /> he needs guidance from the CHCCS as to the priorities on the capital needs. <br /> Jamezetta Bedford said that Elementary#11 is number one, and the arts wing is number <br /> two. The list is in order. <br /> Commissioner Nelson said that the school boards will get a certain amount of money <br /> and it will be up to the school boards on how they decide to spend it. <br /> Donna Coffey said that funding for the pay-as-you-go projects will happen before the <br /> end of this fiscal year, probably in May or June. Funding for the lottery-funded projects will <br /> come when they hear from the State. Funding for the larger projects, or debt-financed projects, <br /> will come with the school district's CIP requests for next year. The issue for the County is that it <br /> will be close to its 15% debt capacity level. <br /> Discussion ensued about the County's debt ceiling. <br /> Commissioner Gordon said that the school systems should continue to advocate for <br /> what they need, but the County is at its debt capacity level. <br /> Anne Medenbleck said that the plans for Cedar Ridge High School also had another <br /> wing planned seven years ago that has not been built yet. <br />