INFORMATIONAL

  Listed below is the payment schedule for those SOQ accounts
  which will be paid by electronic fund transfer (EFT) on a
  monthly payment schedule for 1997-98.

  Bi-monthly on 15 & 30th EFT Basic Aid
                              Retirement (Instructional &
                                Non-Instructional)
                              Social Security (Instructional
                                & Non-Instructional)
                              Vocational Ed (SOQ)
                              Remedial Ed
                              At Risk
                                   Special Ed (SOQ)
                              Gifted Ed

  Quarterly on last 30th EFT  Maintenance Supplement
                              Textbooks
                              Harper Settlement
                              K-3 (beginning in December)
                              Salary Supplement (beginning
                                in March)

  With the exception of K-3, all of these accounts will be
  adjusted once March 31, 1998, ADM is received.  Enrollment
  Loss  will be transferred once ADM is finalized.  Fifty
  percent of Remedial Summer School payments will be sent in
  August and the balance in October when actual enrollment is
  collected.  

  Current estimates of March 31, 1998, ADM will be revalidated
  this fall based on actual September 30, 1997, membership. 
  If the new estimates differ significantly from the current
  estimates, the accounts  will be recalculated using the new
  values.  If the estimates do not differ significantly,
  payments will continue to be made on the current estimates
  until actual March 31, 1998, ADM is known.

  Payments will be made on the estimated entitlements as
  projected in Regulatory Supts. Memo. No. 1, dated February
  24, 1997, for the following accounts:

     1.     Basic Aid, Salary Supplement, Gifted Education,
            Retirement, Social Security, Group Life,
            Textbooks, Maintenance Supplement, Harper
            Settlement - These accounts are calculated on
            adjusted ADM.

     2.     Vocational Ed (SOQ), Special Education (SOQ),
            Remedial Education, At-Risk - These entitlements
            are calculated on unadjusted ADM.

     3.     Reduced K-3 Class Size - September 30, 1997, will
            be used for the final calculation.  This account
            will be paid quarterly, beginning in December,
            1997.

     4.     Dropout Prevention (Project Yes), Truancy, Reading
            Intervention and At Risk Four-Year Old Program -
            50% of this payment will be transferred once the
            application has been approved and the remaining
            50% will be transferred in February, 1998.

     5.     SOL Teaching Materials -This entitlement will be
            paid after certification of the plan or
            description of the purposes for which the funds
            will be used.

     6.     Remediation Assistance - This entitlement will be
            paid after certification of the plan for early
            intervention services.

  Comments or question should be addressed to Mrs. June Eanes,
  Budget Director, at (804) 225-2060 or Mrs. Leigh H.
  Williams, Budget Analyst, at (804) 225-2031.

  RTL:lhw