NC Education Code · NC Policy Manual
NC 1507-5 Reservation for State Activities
Plain English summary
This regulation governs the amount a state may reserve from its section 619 funds for state-level administration and activities. The reservable amount is capped at 25 percent of the state's fiscal year 1997 section 619 allocation, adjusted annually by the lesser of the state's allocation increase or the CPI inflation rate. The Secretary determines and reports this cap to the SEA each fiscal year.
Key requirements
- Each State may reserve not more than the amount described in paragraph (b) of this section for administration and other State-level activities in accordance with NC 1507-6 and NC 1507-7.
- For each fiscal year, the Secretary determines and reports to the SEA an amount that is 25 percent of the amount the State received under section 619 of the Act for fiscal year 1997.
- The amount is cumulatively adjusted by the Secretary for each succeeding fiscal year by the lesser of the percentage increase, if any, from the preceding fiscal year in the State's allocation under section 619 of the Act, or the rate of inflation, as measured by the percentage increase, if any, from the preceding fiscal year in the Consumer Price Index for All Urban Consumers, published by the Bureau of Labor Statistics of the Department of Labor.
Affected parties
- State Educational Agency (SEA)
- Secretary of Education
- Bureau of Labor Statistics (referenced for CPI data)