Parents Students Staff Community

Finance & Budget

FINANCIAL PROFILE

The cost of public education in North Carolina is financed primarily by the state, which provides resources to implement a Standard Course of Study. Local funds may supplement the basic educational program and are appropriated by local Boards of County Commissioners. Local Boards of Education have no tax levying or borrowing authority and are required to maintain accounting records in a uniform format.

2011-2012 Budget Summary

Comprehensive Annual
Financial Report


Year Ended June 30, 2012

 Year Ended June 30, 2011
 
2010 CAFR
Year Ended June 30, 2010

2009 CAFR
Year Ended June 30, 2009
State Public School Fund
$131,732,820
Local Current Expense Fund$49,238,907
Federal Grants Fund$30,761,251
Capital Outlay Fund$20,170,362
Child Nutrition Fund$13,304,831Per Pupil Expenditure
$7,607 (prelim)
Other Specific
Revenue Fund
$5,043,690


Total$250,251,861


State Public School Fund
This fund shows the total that the State provides to us through the "allotment" process. Other state revenue, such as textbook allocations and some small grants, may be recorded in the Local Current Expense Fund.

Local Current Expense Fund
This fund records all revenue and expenditures that are not required (or permitted) to be recorded elsewhere. It contains state, federal, and local revenue sources, the largest of which is the local appropriation from the County of Buncombe.

Federal Grant Programs Fund
The fund shows the total of federal grants that are allotted through the state. Other federal grants may be paid directly to Buncombe County Schools and are recorded in the Local Current Expense Fund.

Capital Outlay Fund
This fund records all our expenditures for our building program as well as regular capital outlay items. It is funded by portions of two "local option" one cent sales taxes. Because local education agencies do not have the power to incur debt, the County of Buncombe sells bonds for school construction for us. The debt service on these bonds is also paid from the local option sales tax.

Child Nutrition Fund
This fund records all the revenue and expenses associated with our Child Nutrition (Food Service) operations. It is funded by federal support in the form of commodities and subsidized meals and by sale of meals and supplemental items to students and staff.