Revised: August 6, 2007; October 1, 2020

In the event of an extreme financial emergency, the College may be forced to reduce personnel costs. In making such decisions and recommendations, all will be mindful that the College’s first obligation is to operate in a manner that best enables it to achieve its mission within its existing resources. In the event of other financial emergencies within a contract year, the President will work with the Chief Operating Officer, area Vice Presidents, and the Board of Trustees to determine the best course of action. 

Should the financial distress persist over time, the College will offer contracts for a new year only to those personnel whose contracts it can reasonably expect to honor for the year in question. Decisions on which contracts to issue will be made prior to April 1st by the President in consultation with the Chief Operating Officer and area Vice Presidents. 

In some instances, it may be necessary to furlough employees in the event of insufficient state or local funds or non-appropriation of state or local funds during the term of a contract. The application of a furlough will be consistent with North Carolina laws. 

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