§ 115C-437. Allocation of revenues to the local school administrative unit by the county.
§ 115C‑437. Allocation of revenues to the local school administrative unit by the county.
Revenues accruing to the local school administrative unit by virtue ofArticle IX, Sec. 7, of the Constitution and taxes levied by or on behalf of thelocal school administrative unit pursuant to a local act or G.S. 115C‑501to 115C‑511 shall be remitted to the school finance officer by theofficer having custody thereof within 10 days after the close of the calendarmonth in which the revenues were received or collected. The clear proceeds ofall penalties and forfeitures and of all fines collected for any breach of thepenal laws of the State, as referred to in Article IX, Sec. 7 of theConstitution, shall include the full amount of all penalties, forfeitures or finescollected under authority conferred by the State, diminished only by the actualcosts of collection, not to exceed ten percent (10%) of the amount collected.Revenues appropriated to the local school administrative unit by the board ofcounty commissioners from general county revenues shall be made available tothe school finance officer by such procedures as may be mutually agreeable tothe board of education and the board of county commissioners, but if no suchagreement is reached, these funds shall be remitted to the school financeofficer by the county finance officer in monthly installments sufficient tomeet its lawful expenditures from the county appropriation until the countyappropriation to the local school administrative unit is exhausted. Eachinstallment shall be paid not later than 10 days after the close of eachcalendar month. When revenue has been appropriated to the local schooladministrative unit by the board of county commissioners from funds which carryspecific restrictions binding upon the county as recipient, the board ofcommissioners must inform the local school administrative unit in writing ofthose restrictions. (1975, c. 437, s.1; 1981, c. 423, s. 1; 1985, c. 779.)