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Virginia Department of Education

Information on this page is provided by the Budget Office

Staff Contacts

Phone: 804-225-2025

Facility Construction & Maintenance

Literary Fund Loans

The Literary Fund is a permanent and perpetual school fund established in the Constitution of Virginia. Revenues to the Literary Fund are derived primarily from criminal fines, fees, and forfeitures, unclaimed and escheated property, unclaimed lottery winnings and repayments of prior Literary Fund loans. The Literary Fund provides low-interest loans for school construction, grants under the interest rate subsidy program, debt service for technology funding, and support for the state’s share of teacher retirement required by the Standards of Quality.

Current Status

Literary Fund Agenda Items approved by the Virginia Board of Education on April 26, 2012

• Active Projects List (PDF)
• First Priority Waiting List (PDF)
• Second Priority Waiting List (PDF)
• Approved Application List (PDF)

Literary Fund Application

• Application for Loan from the Literary Fund of Virginia (XLS)
  Instructions for Downloading (PDF)
  
• Application package includes:
  • Application Checklist (PDF)
  • Requisition for Advance from Literary Fund (XLS)
    Instructions for Downloading (PDF)
    (Please note that as of July 1, 2007, the old Requisition for Advance from Literary Fund form will no longer be accepted. You must use this Excel template.)
  • Sample Reimbursement Resolution (PDF)

Legislation & Regulations

• Chapter 121, 2007 Acts of Assembly
  • Chapter 121
  • Highlighted Code Changes (PDF)
    
• Virginia Department of Education Regulations Governing Literary Fund Loans in Virginia and Non-Regulatory Supplemental Guidance for Literary Fund Regulations (PDF)

Literary Fund Process Flowchart

• Literary Fund Process Flowchart (PDF)

Qualifying Uses of Literary Fund Loans

• Qualifying Uses of Literary Fund Loans (PDF)

Interest Rate Subsidy Program

• Department Requirements for Interest Rate Subsidy Grant (PDF)
• Interest Rate Subsidy Requisition Form (XLS)
  Instructions for Downloading (PDF)

School Construction Options in Virginia

• General Obligation Bonds of the Localities (PDF)
• Direct Literary Fund Loans (PDF)
• Virginia Public School Authority (VPSA)
• Funding Options for School Construction in Virginia (PDF) – January 2008 presentation from the Virginia Public School Authority

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