What type of funding is Bond levy funding classified as?

Bond levy funding is classified as local funding because it primarily originates from taxes that are imposed at the community level to finance specific projects or initiatives, particularly in education. When a school district seeks to raise funds through a bond levy, it typically requires voter approval, allowing local citizens to directly participate in the decision-making process regarding funding for school construction, renovation, or other capital improvements.

Local funding through bond levies is essential for ensuring that schools have the necessary facilities and resources to provide quality education. These funds are meant for specific purposes, like building new schools or upgrading existing ones, which is often driven by the needs and priorities of the local community. Since bond levies are voted on and issued locally, they reflect the community's commitment to investing in education, setting them apart from funding sources that come from federal or state levels, which entail different processes and purposes.