COMMONWEALTH OF VIRGINIA
DEPARTMENT OF EDUCATION
P.O. BOX 2120
RICHMOND, VIRGINIA 23218-2120
SUPTS. MEMO NO. 26
May 25, 2001
ADMINISTRATIVE
 
TO: Division Superintendents
FROM: Jo Lynne DeMary
Superintendent of Public Instruction
SUBJECT: Adjustments to the Fiscal Year 2001 Basic Aid Entitlement for Certain School Divisions

The following attachment to this memorandum reflects adjustments that will be made to the fiscal year 2001 Basic Aid entitlement for certain school divisions beginning on the May 31, 2001, electronic funds transfer (EFT). Listed below are descriptions of each Basic Aid adjustment shown on Attachment A. These adjustments will reduce the divisions’ fiscal year 2001 Basic Aid entitlement.

In order to maintain proper accounting for adjustments made to Basic Aid funds shown in Attachment A (with the exception of adjustments made for overpayment of Instructional VRS) it is necessary for each school division to report the gross receipt of Basic Aid funds under revenue source code 240202 (Basic School Aid) on the 2000-2001 Annual School Report. To balance this gross Basic Aid revenue on the 2000-2001 Annual School Report, school divisions with adjustments to Basic Aid for Summer Residential Governor’s School, Foreign Language Academies, Mental Health/Mental Retardation facilities, or Schools for the Deaf and the Blind should report these adjustment amounts as expenditures in the Instruction Function (61000), using the appropriate program(s). For those divisions where Basic Aid was adjusted for overpayment of Instructional VRS, the amount of the overpayment must be deducted from your unadjusted Basic Aid entitlement. Report this reduced Basic Aid entitlement in Revenue Source Code 240202 on your 2000-2001 Annual School Report.

If you have any questions regarding these adjustments to the fiscal year 2001 state Basic Aid payment, please contact budget office staff at (804) 225-2025.

/administrators/superintendents_memos/2001/adm026a.pdf

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Attachment