N.C. Gov. Bev Perdue is taking additional steps to ensure the state&39;s budget is balanced on June 30, 2009. The move comes in response to an analysis by the Office of State Budget Management that indicates the budget shortfall for fiscal year 2008-09 will likely exceed $3 billion. Gov. Perdue signed an order implementing a flexible furlough program for all state employees. All teachers&39; and state employees&39; compensation will be reduced by an annualized amount equivalent to 0.5 percent for the remainder of the fiscal year. Each employee will receive 10 hours of flexible time off in exchange. This furlough equates to $65 million this year. In addition, she has identified funds to close the remaining budget gap for the fiscal year, which includes capturing more special funds, tapping the state&39;s Savings Reserve Account, and utilizing federal recovery dollars. These measures total more than $1 billion.