GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2009
S 2
SENATE BILL 386
Education/Higher Education Committee Substitute Adopted 5/6/09
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Short Title: Counties to Report Anticipated Use of PSBCF. |
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Referred to: |
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March 4, 2009
A BILL TO BE ENTITLED
AN ACT to facilitate fiscal planning by requiring counties and Local School administrative units to report anticipated expenditures of the Public School building Capital Fund.
The General Assembly of North Carolina enacts:
SECTION 1. Article 38A of Chapter 115C of the General Statutes is amended by adding a new section to read:
"§ 115C‑546.3. Required annual report of planned future expenditures by counties.
On or before June 1 of each year, each county in concert with the local school administrative units within that county shall submit to the Department of Public Instruction a report of anticipated expenditures of both the corporate tax and lottery portions of the Public School Building Capital Fund. The report shall be made on a form and format prescribed by the Department and shall include the following:
(1) The amount of funds allocated to the county that the county does not anticipate requesting during the next fiscal year for capital outlay projects, debt payments, technology equipment purchases, or other approved uses;
(2) A listing of planned future uses of funds from the Public School Building Capital Fund, including capital projects, debt payments, technology equipment purchases, or other approved uses, for which the county is accumulating funds;
(3) The fiscal year in which the county plans to use the funds for each of the planned future uses; and
(4) The estimated amounts of funds from the Public School Building Capital Fund that the county plans to use for each of the planned future uses."