School Board Adopted FY 2013 Budget - Fluvanna County Public ...

State Revenue:
Most state funding is allocated through the Local Composite Index (LCI). This is a formula set out in
the Virginia General Assembly’s annual appropriations act that measures a locality’s ability to pay for its
schools based on population, school enrollment, and factors such as True Value of Property, Adjusted Gross
Income, and General Sales and Use Taxes. A description of the LCI and specific information used to
calculate it are contained in Appendix C. Fluvanna’s LCI for the 2012 – 2014 biennium is 0.3924, which
means that Fluvanna is responsible for 39.24% of the state – calculated costs of educating its children and
the state share is 60.76%.
Based on Governor’s Introduced Budget of December 19, 2011, Fluvanna County Public Schools will
receive $18,451,976 from the state in Fiscal Year 2013. This is $753,590 more than projected and budgeted
for Fiscal Year 2012.
The following chart shows the funding received from the state from Fiscal Year 2007 through the
projection for Fiscal Year 2014.
Note: For the chart above, the Fiscal Years 2012 – 14 Revenue projections are based on state projected
ADM.
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