§ 159-27. Distribution of tax collections among funds according to levy. - North Carolina Statutes

§ 159‑27. Distribution of tax collections among funds according to levy.

(a)        The finance officer shall distribute property taxcollections among the appropriate funds, according to the budget ordinance, atleast monthly.

(b)        Taxes collected during the current fiscal year, that werelevied in any one of the two immediately preceding fiscal years, shall bedistributed to the appropriate funds according to the levy of the fiscal yearin which they were levied. If any fund for which such taxes were levied is notbeing maintained in the current fiscal year, the proportionate share of the taxthat would have been distributed to the discontinued fund shall be allocated(i) to the fund from which the activity or function for which the tax waslevied is then being financed, or (ii) to the general fund if the activity orfunction for  which the tax was levied is no longer being performed.

(c)        Taxes collected during the current fiscal year, that werelevied in any prior fiscal year other than one of the two immediately precedingfiscal years, may be distributed in the discretion of the governing boardeither (i) to the general fund, or (ii) in accordance with subsection (b) ofthis section. This subsection shall not repeal any portion of a local act orcity charter inconsistent herewith and in effect on July 1, 1973.

(d)        This section applies to taxes levied by a unit of localgovernment on behalf of another unit, including school administrative units. (1971, c. 780, s. 1; 1973, c. 474, s. 21; 1975, c.437, s. 15.)