§ 115C-432. The budget resolution; adoption; limitations; tax levy; filing.
§ 115C‑432. Thebudget resolution; adoption; limitations; tax levy; filing.
(a) After the board of county commissioners has made itsappropriations to the local school administrative unit, or after the appealprocedure set out in G.S. 115C‑431 has been concluded, the board ofeducation shall adopt a budget resolution making appropriations for the budgetyear in such sums as the board may deem sufficient and proper. The budgetresolution shall conform to the uniform budget format established by the State Boardof Education.
(b) The following directions and limitations shall bind theboard of education in adopting the budget resolution:
(1) If the county budget ordinance allocates appropriations tothe local school administrative unit pursuant to G.S. 115C‑429(b), theschool budget resolution shall conform to that allocation. The budgetresolution may be amended to change allocated appropriations only in accordancewith G.S. 115C‑433.
(2) Subject to the provisions of G.S. 115C‑429(d), thefull amount of any lawful deficit from the prior fiscal year shall beappropriated.
(3) Contingency appropriations in a fund may not exceed fivepercent (5%) of the total of all other appropriations in that fund. Eachexpenditure to be charged against a contingency appropriation shall beauthorized by resolution of the board of education, which resolution shall bedeemed an amendment to the budget resolution, not subject to G.S. 115C‑429(b)and 115C‑433(b), setting up or increasing an appropriation for the objectof expenditure authorized. The board of education may authorize thesuperintendent to authorize expenditures from contingency appropriationssubject to such limitations and procedures as it may prescribe. Any suchexpenditure shall be reported to the board of education at its next regularmeeting and recorded in the minutes.
(4) Sufficient funds to meet the amounts to be paid during thefiscal year under continuing contracts previously entered into shall beappropriated.
(5) The sum of estimated net revenues and appropriated fundbalances in each fund shall be equal to appropriations in that fund.
(6) No appropriation may be made that would require the levy ofsupplemental taxes pursuant to a local act or G.S. 115C‑501 to 115C‑511in excess of the rate of tax approved by the voters, or the expenditure ofrevenues for purposes not permitted by law.
(7) In estimating revenues to be realized from the levy ofschool supplemental taxes pursuant to a local act or G.S. 115C‑501 to115C‑511, the estimated percentage of collection may not exceed thepercentage of that tax actually realized in cash during the preceding fiscalyear, or if the tax was not levied in the preceding fiscal year, the percentageof the general county tax levy actually realized in cash during the preceding fiscalyear.
(8) Amounts to be realized from collection of supplemental taxeslevied in prior fiscal years shall be included in estimated revenues.
(9) No appropriation may be made to or from the capital outlayfund to or from any other fund, except as permitted by G.S. 115C‑433(d).
(c) If the local school administrative unit levies its ownsupplemental taxes pursuant to a local act, the budget resolution shall makethe appropriate tax levy in accordance with the local act, and the board ofeducation shall notify the county or city that collects the levy in accordancewith G.S. 159‑14.
(d) The budget resolution shall be entered in the minutes of theboard of education, and within five days after adoption, copies thereof shallbe filed with the superintendent, the school finance officer and the countyfinance officer. (1975, c. 437, s.1; 1981, c. 423, s. 1; 1987 (Reg. Sess., 1988), c. 1025, s. 13; 1993, c. 57, s.1.)