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SUPTS. MEMO. NO. 27
May 16, 1997 |
| TO: | Division Superintendents |
| FROM: | Richard T. La Pointe
Superintendent of Public Instruction |
| SUBJECT: | Sales Tax No Loss Payment |
During the 1997 Session of the General Assembly, $2,126,194 was appropriated in the first year of the biennium to provide a one-time payment to school divisions receiving less state funding in the first year as a result of a loss in school age population between the years 1992 and 1996. The additional payment shall be made to qualifying local school divisions requesting such payment, for a percentage of the difference between the funding the division would receive using the 1992 Census in the first year and funding that would be received from these accounts in the first year using the 1992/1996 Blended Census. Such payments shall be made as determined below: Composite Index Percentage 0.0000 0.1999 85% 0.2000 0.3499 70% 0.3500 0.4999 45% 0.5000 or more 30% School divisions may request this payment by returning the attached form by May 30, 1997 to Ms. Doris West, Senior Budget Analyst. If you have any questions concerning this payment call Ms. West at (804) 225-2091 or Mrs. June Eanes, Budget Director, at (804) 225-2060. RTL:dw Attachment: A hard copy of this memo and its attachment will be sent to the superintendent's office SALES TAX NO LOSS PAYMENT REQUEST 1996 - 97 This is to request the one-time Sales Tax No Loss Payment. School Division Signature, Division Superintendent Date Return this form by May 23, 1997 to: Ms. Doris West Senior Budget Analyst Department of Education P. O. Box 2120 Richmond, VA 23218-2120