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




State Public School Fund




Local Current Expense Fund




Federal Grants Fund




Capital Outlay Fund




School Nutrition Fund




Childcare Program Fund




Other Specific Revenue Fund








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.