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Finance & Budget

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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.

Adopted Budget Summary      

Funding Source                            2019-2020               2020-2021               2021-2022

State Public School Fund                $150,362,899 $157,499,824 $152,807,105

Local Current Expense Fund           $71,743,255 $73,727,925 $76,947,430

Federal Grants Fund                      $19,363,607 $24,593,380 $96,440,247

Capital Outlay Fund                       $53,046,066 $37,927,144 $44,835,107

School Nutrition Fund                    $14,026,653 $12,222,426 $9,428,197

Other Specific Revenue Fund          $7,695,007 $4,942,769 $4,313,066

 Total                                          $316,237,486 $310,913,468 $384,771,153

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.

School 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.

Buncombe County Schools is in the process of reviewing its website to ensure compliance with Section 504 of the Rehabilitation Act and Title II of the Americans with Disabilities Act. Buncombe County Schools does not discriminate on the basis of sex in its education programs or activities and is required by Title IX of the Education Amendments Act of 1972 and federal regulations to not discriminate in such a manner. This requirement extends to admission and employment. Inquiries about the application of Title IX and its implementing federal regulations may be referred to the Title IX Coordinator and/or the Assistant Secretary for Civil Rights in the Office for Civil Rights at the U.S. Department of Education. The Title IX Coordinator's contact information is: Shanon Martin, [email protected], 828-255-5918, 175 Bingham Road, Asheville, NC 28806.

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