Minutes 12-07-2015 - Laserfiche WebLink

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(4) The acquisition of school buses (5) The acquisition of activity buses and other motor vehicles. (6) Other objects of expenditure that are assigned to capital outlay fund Local Current Expense Fund Includes: ➢ Revenues accruing to the local school administrative unit by virtue of Article IX, Sec. 7 of the Constitution, ➢ Monies made available to the local school administrative unit by the board of county commissioners, ➢ supplemental taxes levied by or on behalf of the local school administrative unit pursuant to a local act or G.S. 115C-501 to 115C-511, ➢ State money disbursed directly to the local school administrative unit, and ➢ other moneys made available or accruing to the local school administrative unit for the current operating expenses of the public school system. (Emphasis added) *County Board may consider the local school administrative unit's fund balance, when making appropriations for current expenses Chair McKee asked if the fund balance is different from the monies made available to the local school administrative unit by the BOCC. He said the fund balances are accrued through the County's appropriations. Paige Worsham said the fiscal policies of the school boards encourages the funds be used for non-recurring expenses. Chair McKee clarified that the BOCC could not reduce its allocation as per the amount the school boards are using. Paige Worsham said yes. Commissioner Dorosin asked what would happen if the schools used the funds for recurring expenses. Paige Worsham said the school boards' policies strongly encourage them not to do so. Commissioner Dorosin asked what happens if this strong encouragement is ignored and money is spent on a recurring expense. Paige Worsham said the BOCC could then change its appropriation accordingly. Commissioner Dorosin asked if federal monies are considered anywhere in this process. Paige Worsham said those monies are not spoken to in any of these statutes, but are considered separate funding with specific targets. Commissioner Rich asked if the fund balance is used for salaries or raises, and it becomes an on-going expense, who would be held responsible for said ongoing expense. Page Worsham she said she would address that question in upcoming slides. Paige Worsham continued the presentation: NCACC Annual Budget & Tax Survey Findings: • Average 2014-15 Current Expense o $26,412,376 (range from $570,000 - $386,000,000) • Average 2015-16 Current Expense (14 counties not reporting) o $30,378,438 (range from $537,595 - $406,202,352) • Average Increase of 4% o Orange County is 2.7% LEA Fund Balances (graph)