Budget deal will cut from education in 2010 and beyond - NBC12 - WWBT - Richmond, VA News On Your Side

Budget deal will cut from education in 2010 and beyond

By Andy Jenks - bio | email

RICHMOND, VA (WWBT) - The budget deal approved Sunday by the General Assembly includes more than $250 million in additional cuts to education over the 2011-2012 biennium. Some of those cuts come from the Local Composite Index (school funding formula).

According to a summary released by the House Appropriations Committee, the budget that awaits Gov. Bob McDonnell's signature preserves LCI funding at the current level for 2011.

But in 2012, a hold-harmless grant is reduced by 50 percent, meaning certain schools would be responsible for filling a new revenue gap in that year.

While this funding gaps in area school districts would amount to only a fraction of their overall budgets, they signal that budget battles are not over.

Other highlights of the new budget on education:

  • Funds the normal VRS rate for teacher retirement
  • Reduces aid to public libraries by $868,931 each year
  • $40 Million in reductions to general fund for higher education  

Stay with NBC12 for reaction and analysis to the education components of the new state budget.

Copyright 2010 WWBT NBC12. All rights reserved.

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