Projected Revenue
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.
State Funding
|
Projected FY 2021 and FY 2022 State Payments Based on Governor’s Amendments Adopted by 2021 Special Session I General Assembly |
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|
2020-2022 Composite Index: 0.2253 |
Average Daily Membership: 6,751.00 |
Average Daily Membership: 6,713.55 |
||
|
FY 2021 |
FY 2022 |
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|
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 |
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|
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 |
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|
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 |
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|
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 |
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|
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.