Bill Summaries: H557 (2015-2016 Session)

  • Summary date: Apr 6 2015 - View summary

    Current law under GS 115C-426, as amended by Section 7.17(a) of SL 2010-31, provides that the uniform budget format requires the (1) State Public School Fund, (2) local current expense fund, (3) the capital outlay fund, identifies other funds that may be used for reimbursements such as certain sales tax revenues, sales tax refunds, and direct federal appropriations. In addition, provides that the appropriation or use of fund balance or interest income is not to be construed as a local current expense appropriation.

    Amends GS 115C-246(c) to provide that in addition to the funds provided via the uniform budget format, other funds may be used only (1) for funds received for the federal Junior Reserve Officer Training Corps program or (2) if necessary to comply with the donor of a gift or grant who requires the local school administrative unit to use a separate fund account for trust funds and federal grants restricted as to use. Retains provision that other funds may be used for funds received for pre-K programs. Deletes other existing language concerning the use of other funds.

    Amends subsection (e) of GS 115C-246 to provide the types of funds to be included in the local current expense fund of a local school administrative unit. Amends GS 115C-218.105(c), which requires the transfer of the per pupil share of the local current expense fund to a charter school attended by a student who resides in the local school administrative unit, to prohibit the transfer under this subsection of revenue from supplemental taxes to a school that is located outside the tax district in which the student resides if the language on the ballot authorizing the levy of a supplemental tax approved by the voters specified the supplemental taxes were only to be levied for students residing in and attending charter schools located in that specific tax district and the ballot was voted on by the voters before July 1, 2015.

    Effective when the act becomes law and applies beginning with the 2015-16 fiscal year.