2014 Virginia Code
Title 22.1 - Education
§ 22.1-27.5. (For applicability, see Editor's note) Funding
A. Effective with the 2014-2015 school year, any student enrolled in a school under the supervision of the Institution shall have the per pupil funding of his school division of residence transferred to the Institution. The per pupil funding transferred shall consist of the total operational expenditures for the most recent fiscal year available, as reported by the resident division in the Annual School Report Financial Section (ASRFIN), divided by actual March 31 Average Daily Membership for the corresponding fiscal year.
B. Students enrolled in a school under the supervision of the Institution shall not be counted in the March 31 average daily membership or fall membership of their local school division of residence. Such students shall not be counted in the required local effort of the local school division of residence.
C. The per pupil funding transferred from the local school division of residence shall be provided for eligible students based on their March 31 average daily membership in the school under the supervision of the Institution. The Department of Education shall pay the state share per pupil funding directly to the Institution semimonthly. Payments will initiate based on projected Fall Membership for any school under the supervision of the Institution and shall be adjusted accordingly following submission of actual March 31 Average Daily Membership.
The Board shall certify on a monthly basis each school year the number of students enrolled in each school in the Institution. Based upon such monthly certification, the Board shall invoice the affected local school divisions of residence on a monthly basis in order for a one-month portion of the local share per pupil amount and applicable federal share per pupil amount to be transferred from the local school division of residence to the Institution. The local school division of residence shall transfer the certified monthly local and federal share per pupil payments to the Institution within 30 calendar days of the receipt of the monthly invoice from the Institution.
2013, c. 805.
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