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New county funding formula could add about $1.6M; board to request 10¢ supplemental millage restoration
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Summary
CFO Heidi Kearns said the new Buncombe County funding formula is projected to bring Asheville City Schools roughly $1.6 million in additional local revenue (subject to county split and reassessments); the board agreed to ask county commissioners to restore a 10¢ supplemental millage as part of Thursday's presentation.
CFO Heidi Kearns briefed the board on the district's budget outlook for FY27 and a near-term FY26 amendment, noting a sizable change in the county's revenue estimate under a new local funding formula. "We look like we would have about $1,600,000 total new revenue come in for next year," Kearns said, while emphasizing the figure is subject to the county split with Buncombe County Schools and to reassessment appeals.
Kearns explained the county agreed on an initial formula splitting a portion of property and sales tax revenue (37.76% share to each district for the first three years) and that reassessment years introduce uncertainty. Board members discussed the difference between requesting a restoration to a 10¢ supplemental rate versus the county's initial 8.14¢ neutral proposal; the superintendent was scheduled to present a request to county commissioners on Thursday.
Board members also discussed the budgetary risk posed by potential state wage proposals that could be retroactive and significantly increase salary and benefit costs. Kearns noted roughly 85% of the district budget is tied to salaries and benefits and warned that a retroactive state raise would materially change next year's outlook.
The board directed the superintendent to present the 10¢ request to the county and to incorporate facility needs and strategic-plan priorities as part of their county presentation. No formal millage decision is made by the board at the work session; the actions will proceed through the county process and future board budget approvals.
Separately, the board approved placing the routine budget amendment on next week's consent agenda; members also asked for continued reporting on enrollment and charter trends to support budget assumptions.
