AN ACT TO REPEAL THE HACKNEY AMENDMENT TO CHARTER SCHOOL FUNDING.
Identical to S 350, filed 3/25/19.
Amends GS 115C-426 concerning the budget format to be used by local school administrative units. Provides that the uniform budget format allows other funds (other than the State Public School Fund, local current expense fund, and capital outlay fund) to be used to account for trust funds, federal grants restricted as to use, and special programs. Deletes the provision that allowed other funds to be used to account for reimbursements, including indirect costs, fees for actual costs, tuition, sales tax revenues distributed using the ad valorem method, sales tax refunds, gifts and grants restricted as to use, trust funds, federal appropriations made directly to local school administrative units, municipal appropriations made directly to local school administrative units, and funds received for prekindergarten programs. Also deletes the provision specifying that the appropriation or use of fund balance or interest income by a local school administrative unit must not be construed as a local current expense appropriation included as a part of the local current expense fund.