Board of Education Approves Final Budget for 2022-23
Budget reflects funding from state, local and federal sources

The Guilford County Board of Education adopted its official budget for the 2022-23 school year at Tuesday’s Board of Education meeting. The final budget reflects funding from state, local, federal and special revenue sources. The official resolution can be found here. An interim resolution was passed in June.  

The budget reflects salary increases for teachers and most instructional support, principals, assistant principals, classified staff and central office staff, as well as stipends for counselors, psychologists and other professionals.  

The district requested additional funding from the county to support increases in compensation for teachers, principals and assistant principals, as well as to pay for necessary costs such as retirement and hospitalization rate increases, utilities, liability insurance, matching state pay increases for locally funded employees and increases in charter school enrollment. The county provided $19.2 million in additional funding to support these efforts, and the district will make up the additional $3 million in indirect savings.  

The operating budget of $999,705,745 includes $473,635,202 (47.4 percent) in state funding, $252,002,182 (25.2 percent) in local funding and $274,068,361 (27.4 percent) in federal funding. The bulk of the operating budget, 72.4 percent, is dedicated to employee salaries and benefits, with an additional 11.6 percent in purchased services and 9.8 percent in supplies and materials.  

In addition to its operating funds, the district’s budget includes $10,034,751 in capital outlay funds from the county, which will be used for deferred maintenance projects including HVAC upgrades, roof repairs, outdoor lighting, safety and security improvements. The budget also includes $37,266,163 in the school nutrition fund, $4,845,609 in the ACES fund and $11,346,280 in special revenue funds for a total budget of $1,063,198,548. This document outlines the differences between this year’s budget and last year’s budget.