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Staunton joint meeting outlines FY26 school transfer, funding formula and capital needs
Summary
City staff and the Staunton City School Board held a joint work session to review the city's FY26 budget proposal, school funding formula and capital requests. The city's proposed budget includes a larger local transfer to schools and flags several sizable unfunded capital projects for both the city and schools.
A joint work session of the Staunton City School Board and Staunton City Council on April 10 reviewed the FY26 school budget proposal and the local funding formula that determines the city's transfer to schools. City staff said the proposed budget would transfer $18,900,000 to the schools, an increase the presentation described as roughly 9.55% under the current formula.
The funding formula, the presentation said, was signed in August 2022 and bases the school contribution on audited property-tax data from the two prior fiscal years. "It takes 26.559% of the property taxes," a city presenter said, adding that over two years the formula directs 53.118% of real estate…
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