NC S518

Directs the Legislative Research Commission to study budget responsibility, accountability, and transparency in North Carolina's 115 local school administrative units over the past five years.

Requires school districts to provide financial data to the Commission including funding sources, instructional costs (personnel salaries), and operational costs in any requested format such as general ledgers, trial balances, and charts of accounts.

Mandates analysis of school-level financial data organized by fund source, function, program, and object codes, with comparisons between schools within districts and across districts.

Requires an interim report with recommended legislation when the General Assembly reconvenes in 2018 and a final report to the 2019 General Assembly.

Takes effect upon becoming law.