Translate[Archived] Question # 46: What is the comparison of the difference in State education from FY 2020 and FY 2021?
Question:
What is the comparison of the difference in State education funded between FY 2020 and FY 2021? What is the impact of any General Assembly adjustments to the FY 2021 budget? (Mayor Wilson)
Response:
At the time of preparation of ACPS’ Proposed FY 2021 Combined Funds Budget, ACPS projected a 7.2 percent increase in State revenue in FY 2021. Key changes in State funding as proposed by the Virginia Governor for the FY 2021 budget compared with FY 2020 included a $1.4 million increase in Basic Aid and a $1.2 million increase in Sales Tax receipts. Since then, the outbreak of COVID-19 is demonstrating significant impacts on local and State revenues. Currently, the impact of Virginia’s revenue shortfalls on ACPS is unknown as information from the State is pending. For an initial assessment of COVID-19's impacts on ACPS’ revenue sources, please refer to the attached summary prepared by ACPS for the School Board. Although the numbers are not yet known, it is highly likely that the ACPS revenue loss from the State will be substantial and exceed the $3.56 in federal COVID-19 funds that ACPS has been allocated.
Attachment 1: COVID-19 Impact on ACPS FY 2021 Revenue