County approves $5 million cut to CMS
Mecklenburg County Commissioners agreed last night to cut Charlotte Mecklenburg Schools' budget this year by $5 million. County Manager Harry Jones had asked CMS to give back $2.5 million. But he proposed doubling that amount last week to cope with the county's growing decline in tax revenue. Jones says CMS will likely have to return about $1 million each month. "We would not take that $5 million all at once. The way we work with CMS is that our finance department works with them to identify what their cash flow needs are and then provide funding to them," explains Jones. Jones says the county may have to ask CMS to return more money if tax revenues continue to decline. Republican commissioners had proposed cutting the district's budget by $5 million and then placing another $2.5 million into a contingency fund in case the county needs to ask for more.