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.

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