Bid for funding shift benefiting North Carolina charter schools falls short

Matthew Zalaznick's picture
Monday, May 20, 2013

Those who oversee public school district coffers are breathing a collective uneasy sigh of relief, at least for now, after a renewed attempt to funnel more money to charter schools is likely put to bed for this legislative session.

Up until last week, two bills still on the table in the N.C. House contained provisions that would have eliminated an accounting practice used by public school systems known as Fund 8. Created in 2010, Fund 8 allows districts to separate certain types of revenue, like direct federal grants, donations and special program funding. Previously, those dollars were often included in districts’ local current expense fund — the bulk of which is made up of funds distributed from the county commissioners.

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