INFORMATIONAL

  Estimates of unadjusted and adjusted Average Daily
  Membership (ADM) for 1997-98 have been revised based on
  actual September 30, 1997, fall membership.  These revised
  estimates represent a decrease in unadjusted ADM of 3,917
  students from the estimates contained in the 1996-98
  Appropriations Act (Chapter 924).  The Sales Tax estimate
  used to compute Basic Aid has been increased to $637,300,000
  for the 1997-98 year.

  Based on these revisions, estimated 1997-98 entitlements for
  all ADM driven accounts have been recomputed.  These
  estimates, along with the revised ADM and Sales Tax and
  information on other accounts are provided on the
  Attachment.  

  These revised entitlements are estimates and cannot be
  finalized until the actual March 31, 1998, ADM is known. 
  While we have confidence in the accuracy of our projections
  of total ADM for the state, experience has shown that the
  accuracy of projections for individual localities may vary. 
  When localities believe that they have more accurate
  projections of their March 31 ADM, they are encouraged to
  substitute their estimates for those provided in this
  document.

  Questions may be directed to Mr. Daniel S. Timberlake,
  Assistant Superintendent for Finance, at (804) 225-2025, or
  Mrs. June F. Eanes, Budget Director, at (804) 225-2060.

  RTL:je

  Attachment:  A hard copy of this memo and its attachment
               will be sent to the superintendent's office.