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Finance

Welcome to the Finance Department

Our mission is to manage and maintain financial records in conformity with generally accepted accounting principles and in compliance with State and Federal laws; to develop and maintain effective and efficient financial planning, reporting and central support systems in order to support the operations of the school system in achieving its objectives; to provide quality service and safeguard the system’s assets.

Finance Information

Payroll

Staff Development/Travel Expenses

Audit Information

View the Rowan-Salisbury School System's Comprehensive Annual Financial Statements for the last three years below.

2015-16 Comprehensive Annual Financial Statements

2014-15 Comprehensive Annual Financial Statements

2014-13 Comprehensive Annual Financial Statements

Approved Banking Institutions for Schools

Primary depository for the Rowan-Salisbury Board of Education funds:
Capital Bank

Banking institutions approved for school checking accounts:
Bank of America
Bank of the Carolinas
Bank of the Ozarks
Capital Bank
Farmers & Merchants Bank
First Bank
Suntrust Bank
Wells Fargo Bank
Yadkin Bank

Budget Flexibility

NC General Statute 115C-105.25(c) Budget Flexibility

NC General Statute 115C-105.25(c) requires each LEA to post the prior year state expenditures on its website. This ensures that parents, educators, and the general public are informed on how State funds have been used to address local educational priorities, each local school administrative unit shall published by October 15 of each year. The five requirements are summarized below.

Note: Some related documents are posted at www.ncpublicschools.org/fbs/resources/data/ "Annual Expenditure Report by LEA". LEAs may use these documents to fulfill (1) and (2) and (5) of the legislation, if they choose. LEAs are required to complete (3) and (4). See below.

(1) A description of each program report code, written in plain English, and a summary of the prior fiscal year's expenditure of State funds within each program report code.

(2) A description of each object code within a program report code, written in plain English, and a summary of the prior fiscal year's expenditure of State funds for each object code.

(3) A description of each allotment transfer that increased or decreased the initial allotment amount by more than five percent (5%) and the educational priorities that necessitated the transfer. NEW per HB 97 Section 8.33 from 2015-16

(4) A description of any transfer of funds from the textbook and digital resources allotment into another allotment category with an explanation of why the transfer from the textbooks and digital resources allotment was made to a different allotment category.

(5) A chart that clearly reflects how the local school administrative unity spent State funds As in the past, the Division of School Business has provided documents for the LEAs to use to comply with the requirements of Session Law 2013-360 section 8.14(c) parts (1) and (2), in addition we have added a chart in the spirit of (5).

Requirement # 3 (3) A description of each allotment transfer that increased or decreased the initial allotment amount by more than five percent (5%) and the educational priorities that necessitated the transfer. As a result of lapsed salaries and unfilled positions, Career and Technical Education (CTE) Months of Employment valued at $243,577.00 was transferred to Career and Technical Education Program Support in order to ensure the CTE program received the full benefit of state funding available to CTE. This was a reduction of CTE Months of Employment of 4.4% and an increase to CTE Program Support of 90.2% in 2015-16. The district transferred $29,000 from the AIG Allotment in order to purchase instructional supplies for Art, Music, and PE. The distract transferred $818,991 from the AIG allotment and $665,155 from the LEP allotment to take advantage of the flexibility allowed by DPI in order to maximize resources in the classroom.

Requirement #4 (4) A description of any transfer of funds from the textbook and digital resources allotment into another allotment category with an explanation of why the transfer from the textbooks and digital resources allotment was made to a different allotment category. Carryover funds remaining from unused textbook allotments in previous years were transferred in the amount $872,702 to the state Classroom Material, Instructional Supplies and Equipment category for digital instruction.

Fixed Asset Forms

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