S374 - NC Public Schools Budget Flexibility Act

• Eliminates restrictions on transferring state funds between most funding categories, allowing local school boards greater flexibility in allocating teacher assistants, classroom materials, textbooks, and other resources to maximize student achievement.

• Removes class size and teaching load maximums that previously required average class sizes not to exceed funded allotment ratios and daily teaching loads for grades 7-12 not to exceed 150 students, giving local boards flexibility to use allotted teacher positions as they determine.

• Requires local school administrative units to publish on their websites by October 15 annually: descriptions of program and object codes with prior fiscal year expenditure summaries, and descriptions of allotment transfers exceeding 5% with the educational priorities justifying those transfers.

• Maintains restrictions on transferring funds for children with disabilities, career and technical education, and other federally-regulated programs to ensure compliance with federal law and grant conditions.

• Effective July 1, 2013.