Virginia lawmakers approve plan to advance new K-12 school funding formula
A state legislative subcommittee on Monday approved a plan to hire an expert to study a new school funding formula for Virginia, with up to 24 months to complete the work. The decision continues lawmakers’ work to update the state’s 52-year-old funding formula, which determines the Standards of Quality, or funding level for public schools. A December 2023 study showed that Virginia local governments spend far more on K-12 education than the state, underscoring the need for a clearer approach. Virginia Dept. of Ed projects K-12 schools will need $1.2 billion over next two years Researchers from the Joint Legislative Audit and Review Commission, which studied the formula, said lawmakers could partially replace the SOQ formula by using student-based calculations for special education and English learner funding. Another option would be to fully replace the entire staffing-based formula…
