May 22, 2012
Save Email Print Bookmark and Share
A A

New Budget Cuts Health, School Inflation Allowance

Gov. Bob McDonnell's new budget isn't winning any friends in public education.

The new budget he introduced increases overall funding for
kindergarten through high school by about $438 million.

It also eliminates $81 million in projected increases in former
Gov. Tim Kaine's pre-kindergarten initiative to account for projected enrollment by at-risk 4-year-olds that McDonnell advisers say is far higher than actual participation. Even so, funding for the program increases by about $5 million, to roughly $68 million each of the next two years.

Advocates for local governments and schools, however, say the
bulk of the $438 million in school funding represents the state's
share of the employer contribution to the retirement plans for
school teachers.

(Copyright 2011 by The Associated Press. All Rights Reserved.)


powered by Disqus

Finance Glossary

Financial Glossary © ML