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.