NC H508

Modifies the uniform budget format to require local school administrative units to report expenditures from local funds by program report code and object code, with separate reporting for county appropriations versus other local funds in the current expense fund.

Requires school superintendents to describe projected expenditures from local funds by program report code and object code in annual budgets submitted to boards of education.

Permits county commissioners to allocate appropriations by purpose, function, program report code, or project, and requires board of education approval for budget amendments that increase or decrease county appropriation allocations by 25% or more (or a lower percentage specified by commissioners, minimum 10%).

Requires annual independent audits to include a comparison of budgeted versus actual expenditures by program report code and object code, filed within 30 days of completion to the Secretary of the Local Government Commission, State Board of Education, board of education, and board of county commissioners.

Requires local school administrative units to report audit results to the State Board of Education within 60 days of completion, with the Department of Public Instruction posting this information on its website organized by local school administrative unit to enhance transparency.