Orange County NC Website
Browse       Search
12 <br /> 1 (6) Other objects of expenditure that are assigned to capital outlay fund <br /> 2 <br /> 3 Local Current Expense Fund <br /> 4 Includes: <br /> 5 ➢ Revenues accruing to the local school administrative unit by virtue of Article IX, Sec. 7 of <br /> 6 the Constitution, <br /> 7 ➢ Monies made available to the local school administrative unit by the board of <br /> 8 county commissioners, <br /> 9 ➢ supplemental taxes levied by or on behalf of the local school administrative unit pursuant <br /> 10 to a local act or G.S. 115C-501 to 115C-511, <br /> 11 ➢ State money disbursed directly to the local school administrative unit, and <br /> 12 ➢ other moneys made available or accruing to the local school administrative unit for the <br /> 13 current operating expenses of the public school system. (Emphasis added) <br /> 14 <br /> 15 *County Board may consider the local school administrative unit's fund balance, when making <br /> 16 appropriations for current expenses <br /> 17 <br /> 18 Chair McKee asked if the fund balance is different from the monies made available to <br /> 19 the local school administrative unit by the BOCC. He said the fund balances are accrued <br /> 20 through the County's appropriations. <br /> 21 Paige Worsham said the fiscal policies of the school boards encourages the funds be <br /> 22 used for non-recurring expenses. <br /> 23 Chair McKee clarified that the BOCC could not reduce its allocation as per the amount <br /> 24 the school boards are using. <br /> 25 Paige Worsham said yes. <br /> 26 Commissioner Dorosin asked what would happen if the schools used the funds for <br /> 27 recurring expenses. <br /> 28 Paige Worsham said the school boards' policies strongly encourage them not to do so. <br /> 29 Commissioner Dorosin asked what happens if this strong encouragement is ignored and <br /> 30 money is spent on a recurring expense. <br /> 31 Paige Worsham said the BOCC could then change its appropriation accordingly. <br /> 32 Commissioner Dorosin asked if federal monies are considered anywhere in this process. <br /> 33 Paige Worsham said those monies are not spoken to in any of these statutes, but are <br /> 34 considered separate funding with specific targets. <br /> 35 Commissioner Rich asked if the fund balance is used for salaries or raises, and it <br /> 36 becomes an on-going expense, who would be held responsible for said ongoing expense. <br /> 37 Page Worsham she said she would address that question in upcoming slides. <br /> 38 Paige Worsham continued the presentation: <br /> 39 <br /> 40 NCACC Annual Budget & Tax Survey <br /> 41 Findings: <br /> 42 • Average 2014-15 Current Expense <br /> 43 o $26,412,376 (range from $570,000 - $386,000,000) <br /> 44 • Average 2015-16 Current Expense (14 counties not reporting) <br /> 45 o $30,378,438 (range from $537,595 - $406,202,352) <br /> 46 • Average Increase of 4% <br /> 47 o Orange County is 2.7% <br /> 48 <br /> 49 LEA Fund Balances (graph) <br /> 50 <br /> 51 Local Current Expense Fund Balance Policy <br />