AN ACT TO INCREASE TRANSPARENCY AND ACCOUNTABILITY IN LOCAL EDUCATION FUNDING BY MODIFYING THE UNIFORM BUDGET FORMAT TO INCLUDE INFORMATION ON EXPENDITURES FROM LOCAL FUNDS BY PROGRAM REPORT CODE AND OBJECT CODE, REQUIRING THE SUPERINTENDENT TO DESCRIBE PROJECTED EXPENDITURES FROM LOCAL FUNDS BY PROGRAM REPORT CODE AND OBJECT CODE, PERMITTING LOCAL BOARDS OF EDUCATION TO SUBMIT TO COUNTY COMMISSIONERS PROJECTED EXPENDITURES FROM LOCAL FUNDS BY PROGRAM REPORT CODE AND OBJECT CODE, PERMITTING COUNTY COMMISSIONERS TO ALLOCATE LOCAL FUNDS BY PROGRAM REPORT CODE, REQUIRING THE ANNUAL INDEPENDENT AUDIT OF ACCOUNTS OF A LOCAL SCHOOL ADMINISTRATIVE UNIT TO INCLUDE A COMPARISON OF BUDGETED AND ACTUAL EXPENDITURES BY PROGRAM REPORT CODE AND OBJECT CODE, REQUIRING THE ANNUAL INDEPENDENT AUDIT REPORT TO BE FILED WITHIN THIRTY DAYS OF ITS COMPLETION, AND REQUIRING A LOCAL SCHOOL ADMINISTRATIVE UNIT TO REPORT THE RESULTS OF THE ANNUAL INDEPENDENT AUDIT TO THE STATE BOARD OF EDUCATION WITHIN SIXTY DAYS OF ITS COMPLETION.
Identical to S 406, filed 3/30/21.
Amends multiple statutes in GS Chapter 115C, Article 31, The School Budget and Fiscal Control Act, by requiring the uniform budget format to include information on expenditures from local funds by program report code and object code. Specific amendments are as follows.
Amends GS 115C-426 by adding new subsection (c1) requiring the inclusion of expenditures from local funds by program report code and object code; requires expenditures for the local current expense fund to be distinguished between those supported by county appropriations from those supported by other local funds.
Amends GS 115C-427(a) to require the same inclusion and distinguishing between different types of local funds as above.
Amends GS 115C-429(a) to require the same inclusion and distinguishing between different types of local funds as above; modifies subsection (b) by allowing the board of county commissioners to allocate part or all of its appropriation not only by purpose or function but also by program report code.
Amends GS 115C-433(b) by allowing county appropriations by program report code in addition to purpose or function.
Amends GS 115C-447(a) by adding gender-inclusive language, requiring audits of accounts of local school administrative units to include a comparison of budgeted and actual expenditures by program report code and object code, and requiring the annual audit to be filed within 30 days of completion.
Amends GS 115C-451 by adding new subsection (a1) providing that local school administrative units must report the results of an audit, which must include comparisons of budgeted and actual expenditures, no later than 60 days after its completion to the State Board of Education. Requires the Department of Public Instruction to post this information on its website.
Effective upon becoming law and applies beginning with budget ordinances adopted after June 30, 2021.
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