The School Capital Fund Commission Meeting held on September 29, 2025, in Buncombe County, North Carolina, focused on key updates regarding school funding and project management. The meeting began with a public comment section, which had no attendees, followed by the reappointment of commission member Matt Macron, who will continue to serve at the board's pleasure.

A significant topic of discussion was the approval of funds for operational use, which was highlighted by a representative from the school system. The decision to utilize $31 million for operations was acknowledged as crucial for maintaining service levels in schools, especially at the start of the academic year. The representative expressed gratitude for this decision, noting that it allowed the school system to move forward despite the challenges faced.

The meeting also included a financial update, detailing the revenue generated from Article 39 sales tax, which is primarily allocated for school capital projects. Over the past decade, the average revenue growth rate has been approximately 6.58%, but recent figures indicate a slowdown, with a negative growth rate of 1.64% for fiscal year 2025. This decline is attributed to various economic factors affecting sales tax collections.

In terms of expenditures, the county's debt obligations were discussed, with a focus on the issuance of bonds to fund school projects. Currently, there are 97 active projects, with Buncombe County Schools overseeing 79 of them. The annual project spending typically averages around $20 million, but the previous fiscal year saw expenditures rise to $33 million. The meeting outlined plans for future debt issuance, which could add approximately $5 million in debt service costs starting in fiscal year 2027.

Overall, the meeting underscored the ongoing financial challenges faced by the school system while highlighting the importance of strategic funding decisions to support educational services in Buncombe County. The commission plans to continue monitoring revenue trends and project funding needs in the coming months.