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4 <br /> 1 Slide #4 <br /> State Budget Impasse & Mitigation Strategy <br /> State Budget Impasse <br /> • NCGA 2025-27 biennial budget delayed until at least November 2025 <br /> • Core dispute: personal and corporate tax cuts <br /> • Ongoing uncertainty for local education funding <br /> CHCCS Mitigation Strategy <br /> • Adapt continuation budget while awaiting state resolution <br /> n 3%salary reserve <br /> o Fund non-personnel budgets at 75%— creates $1.75M reserve <br /> • Tier III savings available if needed to balance budget, but rebuilding fund balance <br /> remains top priority <br /> �. a +v„-h..1, _.., THINK (AND ACT) MOTTMMU <br /> 2 <br /> 3 Regarding the current year's budget impasse, Jonathon Scott explained they were <br /> 4 operating under a continuing spending resolution while the General Assembly remained <br /> 5 deadlocked over personal and corporate income tax cuts. He said to mitigate uncertainty, the <br /> 6 district adopted a continuation budget with 3% salary increases placed in reserve and frozen 25% <br /> 7 of all non-personnel budgets, creating a $1.75 million reserve. He said the CHCCS Board of <br /> 8 Education's top priority is rebuilding fund balance. <br /> 9 Commissioner McKee expressed appreciation for the difficult steps taken, acknowledging <br /> 10 the challenges faced by both the district and the county in managing revenue reductions and <br /> 11 avoiding additional tax burdens on residents. <br /> 12 <br /> 13 <br />