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Buncombe County board approves new K–12 operating funding formula, sets fixed 37.76% allocation of property and sales tax base
Summary
After presentations from both school systems, the county approved a written K–12 operating funding agreement that fixes school operating support at 37.76% of combined property- and sales-tax base (split ~85/15 by ADM), restoring pre-Helene levels plus 1.9% growth; agreement includes renewal dates and an emergency definition.
Buncombe County commissioners voted on Jan. 6 to approve a new written agreement that allocates local current operating funds for K–12 schools as a fixed percentage (37.76%) of two major county revenue sources (property tax and designated sales tax).
Budget Director John Hudson told the board the formula uses a look-back at the 12 months of actuals (March–February) and would be recalculated each year to provide predictability. "Working in concert with our school partners, we have agreed on a percentage of 37.76% of these 2 revenue sources," Hudson said. Staff said the percentage restores pre-Helene funding levels and…
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