SUPTS. MEMO. NO. 213
November 23, 1999
|FROM:||Paul D. Stapleton
Superintendent of Public Instruction
|SUBJECT:||2000-2002 Composite Index Local|
The attached reports list the 1997 base-year data used in calculating the Composite Index of Local Ability-to-Pay for the 2000-2002 biennium. Attachment A includes the index calculated using the total Adjusted Gross Income (AGI) for each locality. Attachment B includes the index calculated using AGI that excludes non-resident data for localities whose total AGI is comprised of three percent or more from non- residents of Virginia. Attachment C provides an example of the formula used to calculate the composite index for 2000-2002. If you have questions concerning this data or need additional information, please call Kent C. Dickey or Brian Logwood at (804) 225-2025. PDS:pft Attachments: A hard copy of this memo and its attachment will be sent to the superintendent's office.