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4 <br /> 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 /> + Adopt continuation budget while awaiting state resolution <br /> 0 3%salary reserve <br /> o Fund non-personnel budgets at 75%--+creates $1 J5M reserve <br /> + Tier III savings available if needed to balance budget, but rebuilding fund balance <br /> remains top priority <br /> Chapel HiIkCa b.-City Schools I ch.---g THINK (AND ACT)01=39NUM <br /> Regarding the current year's budget impasse, Jonathon Scott explained they were <br /> operating under a continuing spending resolution while the General Assembly remained <br /> deadlocked over personal and corporate income tax cuts. He said to mitigate uncertainty, the <br /> district adopted a continuation budget with 3% salary increases placed in reserve and frozen 25% <br /> of all non-personnel budgets, creating a $1.75 million reserve. He said the CHCCS Board of <br /> Education's top priority is rebuilding fund balance. <br /> Commissioner McKee expressed appreciation for the difficult steps taken, acknowledging <br /> the challenges faced by both the district and the county in managing revenue reductions and <br /> avoiding additional tax burdens on residents. <br />