Richmond City Council exploring new options to fund schools

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RICHMOND, Va. (WRIC) — Richmond City Council is exploring new ways to fund its public schools. Last week’s budget deal delivered an additional $9.5 million, which was far less than the $18 million administrators requested.

Last week’s budget deal delivered an additional $9.5 million, which was far less than the $18 million administrators requested.

With threats of school closures, the city is hoping a few new ordinances would provide schools with a steady increase in funding.

Parents, teachers and students have protested city council, showing them photos of crumbling schools and demanding city leaders take action. Now, a few new options may help.

The first option would give schools one percent of the meals tax revenue. A second would dedicate just over 60 percent of the city’s current and delinquent real estate tax revenues, which would give schools $6 million.

Two other options would dedicate either 75 or 100 percent of the city’s year-end general fund surplus, but that doesn’t exclude the amount of money required to meet the city’s unassigned fund balance policy.

All of these options will be debated during Thursday’s city council meeting.Find 8News on Twitter, Facebook, and Instagram; send your news tips to iReport8@wric.com.

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