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J(c <br />3 <br />G <br />N <br />u <br />z <br />z <br />L <br />U <br />C <br />J <br />C <br />L" <br />J <br />U <br />h1 <br />0 <br />z <br />N <br />O <br />Z <br />5 <br />u <br />a <br />Z <br />G <br />J <br />J <br />0 <br />U <br />Board of Commissioners Page 3 January 4, 1990 <br />A final comment on all of this relates to the time of <br />disbursement to the schools by the County of money appropriated <br />to the schools. By agreement with the schools, the County now <br />pays to the schools each month 1/12 of the total annual per- <br />pupil appropriation. By statute, however, the County must pay <br />over supplemental tax receipts to the schools within ten days <br />of the close of each month. N.C.G.S. §115C-511. If the County <br />chose to equalize funding for the schools by the regular County <br />per-pupil appropriation, the County may benefit from the <br />"float." The supplemental tax approach would obligate the <br />County to pay over the revenue generated by the supplemental <br />tax as the revenue is received. T-~pically, large sums are <br />received in the last calendar quarter of each year, much <br />smaller sums at other times. An analysis of this aspect of the <br />issue can probably be done by Finance. <br />If you have further questions, please call. <br />Very truly yours, <br />Geoffrey E. Gledhill <br />and Marilyn E. Tomei <br />GEG/bIET/lsg <br />xc: John M. Link, ,7r. <br />Ellen Liston <br />