• Sources of Revenue

     

    Comparison of FY 2021 and FY 2022 Revenue Sources

    Revenue Sources

    FY 2021

    FY 2022

    Variance

    State Accounts

    56,588,535

    59,524,689

    2,936,154

    Local Funding

    18,925,432

    19,373,777

    448,345

    Grants

    10,000,000

    10,000,000

    -

    Other Revenue

    1,712,366

    1,712,366

    -
           

    Total

    87,226,333

    90,610,832

    3,384,499

     The above table includes a request for $19,373,777 from the Local Governing Body. This represents $14,312,173 in Local Required Effort (LRE) and a total of $5,061,604 in Leeway or discretionary funds. While the total request is $448,345 above FY 2021 Total Local Effort, there is a decrease of $1,227,853 in discretionary local funding. 

     

    Sources of Revenue Pie Chart

     

     

     

    State Funding

    Projected FY 2021 and FY 2022 State Payments Based on Governor’s Amendments Adopted by 2021 Special Session I General Assembly

    2020-2022 Composite Index: 0.2253

    Average Daily Membership: 6,751.00

    Average Daily Membership: 6,713.55
     

    FY 2021

    FY 2022

    Standards of Quality Programs

    State Share

    Local Share

    State Share

    Local Share

    Basic Aid 

    26,167,301

    7,610,033

    26,351,521

    7,663,609

    Sales Tax

    8,537,933

    N/A

    8,683,049

    N/A

    Textbooks

    562,068

    N/A

    558,950

    162,555 

    Vocational Education 

    627,600

    182,520

    624,118

    181,508

    Gifted Education 

    277,190

    80,613

    275,652

    80,166

    Special Education 

    2,986,330

    868,491

    2,969,764

    863,673

    Prevention, Intervention, & Remediation 

    1,328,420

    386,334

    1,321,051

    384,191

    VRS Retirement (Includes RHCC) 

    3,744,680

    1,089,036

    3,744,711

    1,089,045

    Social Security 

    1,605,610

    466,947

    1,607,105

    467,382

    Group Life 

    115,060

    33,462

    114,422

    33,276

    English as a Second Language

    369,124

    107,349

    406,926

    118,343

    Remedial Summer School

    45,177

    N/A

    45,177

    N/A
             

    Subtotal – SOQ Accounts

    46,366,493

    10,824,785

    46,702,446

    11,043,748

     

     

     

     

    FY 2021

    FY 2022

    Incentive Programs

    State Share

    Local Share

    State Share

    Local Share

    Compensation Supplement 

    Not Funded in FY 2021

    1,762,204

    512,488

    Academic Year Governor's School*

    523,103

    N/A

    548,574

    N/A

    At-Risk (Split funded - See Lottery section below)

    1,608,189

    467,697

    2,200,403

    639,926

    COVID-19 Local Relief Payments

    37,137

    N/A

    0

    N/A

    Virginia Preschool Initiative 

    1,244,791

    362,013

    1,518,164

    441,516

    No Loss Funding

    1,511,738

    N/A

    1,205,896

    N/A

    Community Provider Add-on Funds - Mixed Delivery

    0

    N/A

    92,500

    N/A

    School Meals Expansion

    0

    N/A

    0

    N/A

    Math/Reading Instructional Specialists

    0

    0

    0

    0

    Early Reading Specialists Initiative

    0

    0

    0

    0

    Technology - VPSA

    466,000

    77,600

    466,000

    77,600
             

    Subtotal – Incentive Accounts

    5,390,958

    907,310

    7,793,741

    1,671,530

     

     

     

    FY 2021

    FY 2022

    Categorical Programs

    State Share

    Local Share

    State Share

    Local Share

    Adult Education 

    0

    N/A

    0

    N/A

    American Indian Treaty Commitment

    0

    N/A

    0

    N/A

    School Lunch*

    50,949

    N/A

    50,949

    N/A

    Special Education – Homebound

    14,468

    N/A

    14,613

    N/A

    Special Education – State-Operated Programs

    0

    N/A

    0

    N/A

    Special Education – Jails*

    7,200

    N/A

    7,443

    N/A
     

    Subtotal – Categorical Accounts

    72,617

    0

    73,005

    0

     

     

     

     

    FY 2021

    FY 2022

    Lottery-Funded Programs

    State Share

    Local Share

    State Share

    Local Share

    Foster Care 

    48,474

    N/A

    37,039

    N/A

    Learning Loss Instructional Supports

    461,438

    N/A

            Not Funded in FY 2022

    At-Risk (Split funded – See Incentive section above)

    1,032,897

    300,389

    1,264,636

    367,784

    Early Reading Intervention

    217,571

    63,274

    217,571

    63,274

    Mentor Teacher Program

    4,953

    N/A

    4,953

    N/A

    K-3 Primary Class Size Reduction

    1,682,223

    489,228

    1,730,736

    503,337

    School Breakfast*

    33,027

    N/A

    21,578

    N/A

    SOL Algebra Readiness

    175,328

    50,989

    175,333

    50,991

    Project Graduation*

    12,462

    N/A

    12,462

    N/A

    Alternative Education*

    192,807

    N/A

    206,316

    N/A

    ISAEP*

    33,545

    N/A

    33,545

    N/A

    Special Education – Regional Tuition*

    1,046,971

    N/A

    1,046,971

    N/A

    Career and Technical Education

    29,503

    N/A

    29,503

    N/A

    Supplemental Basic Aid

    0

    N/A

    0

    N/A

    Infrastructure and Operations Per Pupil Fund

    2,176,356

    N/A

    2,102,692

    611,509
             

    Subtotal – Lottery-Funded Programs

    7,147,554

    903,880

    6,883,335

    1,596,895


    * The italicized items are state-funded grants and do not reflect in total revenue from the state.

     

    Local Funding

     

    Comparison of FY 2021 and FY 2022 Local Share of Funding
     

    Local Share of Funding

    FY 2021

    FY 2022

    Variance

    SOQ Accounts

    10,824,785

    11,043,748

    218,963

    Incentive Accounts

    907,310

    1,671,530

    764,220

    Categorical Accounts

    0

    0

    -

    Lottery-Funded Accounts

    903,880

    1,596,895

    693,015

    Local Leeway Funding

    6,289,457

    5,061,604

    (1,227,853)
           

    Total Local Effort

    18,925,432

    19,373,777

    448,345



    The table above shows the approved funding from the locality and includes $448,345 above the Total Local Effort from FY 2021. This reflects an increase in Local Required Effort (the locality’s share of the cost of state programs as determined by the Local Composite Index) and a decrease in Local Leeway Funding (the funding that the locality provides at its discretion). 


    The original budget proposal (March 18, 2021) included a request for $507,345 above level funding for Total Local Effort, which is Local Required Effort (SOQ, Incentive, Categorical, and Lottery-Funded Local Shares) plus Local Leeway Funding. This request was not met in full.