Addressing the School Funding Error
Earlier this week, the Department of Education disclosed an error in their funding calculations to school divisions that resulted in a $200 million overestimation in the amount that schools expected to receive from the state. In light of this error, I want to be very clear: No school divisions will see any budgetary cuts. In fact, Virginia is in a financial situation that allows us to expand our investments in our schools while resolving the funding error through the budget process.
In the next fiscal year, schools will get an additional $77.5 million, and the Governor has proposed an additional $441.0 million in his amendments. If you are doing the math, it comes out to $240.3 million above the amount that was overestimated. In addition, since no payments were made as a result of the miscalculation, school systems do not need to return a single penny back to the state.
House Republicans are committed to sending more money to our schools – not less – to ensure students and teachers have the resources they need to succeed.