SUPTS. MEMO. NO. 169
November 20, 1998
|FROM:||Paul D. Stapleton
Superintendent of Public Instruction
|SUBJECT:||Dedication of all Lottery Profits to Public Education Governor Gilmore's "Promise for Virginia's Future"|
Today Governor Gilmore announced his intent to dedicate all Lottery profits to public education, using the Commonwealth's Basic Aid formula, as part of his "Promise for Virginia's Future" program. Localities will have flexibility to use the additional funds where most needed, for example, for the addition of new teachers and specialists, for school construction or renovation, for additional remediation programs, or preparation for the Standards of Learning. By dedicating the entire Lottery profits of $314 million in FY 1999 and $310 million in FY 2000, localities will receive an extra $123 million the first year and an extra $122 million the second year to use for education and other purposes. The increase for the 1998-2000 biennium is $245 million above the $5.0 billion currently transferred to localities for the Standards of Quality basic aid program and sales tax distribution. Lottery profits will be allocated to localities on the basis of each locality's number of students in average daily membership weighted by the local composite index. In addition to providing increased funding for the public education, Governor Gilmore's proposed program provides additional funding for law enforcement and provides for a phased in elimination of two percent of the State sales tax on food. Since this funding proposal is part of Governor Gilmore's proposed budget for the 1999 General Assembly session, final implementation will depend upon General Assembly approval. Attached is the entire briefing packet on the program, with tables representing funding allocations to localities. Questions should be directed to Dan Timberlake, Assistant Superintendent for Finance, 804/225-2025. PDS/cc Attachment: A hard copy of this memo and its attachment will be sent to the superintendent's office.