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Finance staff presents local funding formula proposal that would tie county contributions to prior‑year receipts
Summary
Finance staff outlined a proposed local current‑expense funding formula that would allocate a fixed percentage of unrestricted county property and sales tax receipts to Buncombe County Schools; staff estimated a combined county allocation near $119 million and Buncombe's share around $101 million and described a three‑year initial term with annual December reviews.
District finance staff presented a proposal to move local current‑expense funding to a percentage‑based formula tied to prior‑year actual receipts of county property and sales tax rather than to projected revenue. Tina Thorpe told the board the combined county allocation for local current expense between the district and Asheville City Schools would be about $119 million using the most recent…
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