Virginia school superintendents say local school systems — and the education they provide — will suffer if state legislators approve Governor McDonnell’s budget proposal. They met in Richmond in yesterday, and as WFIR’s Evan Jones reports, the concern surrounds funding the state’s retirement system.[audio:http://wfirnews.com/wp-content/uploads/2012/01/01-18-School-Funding-Wrap1-WEB.mp3|titles=01-18 School Funding Wrap1-WEB]
Governor McDonnell proposes a $2.2 billion state contribution to the Virginia Retirement System to help it meet future pension obligations. The proposed formula to do so would increase each school system’s contribution to the extent most Virginia schools say they expect drastic budget shortfalls as a result.
Salem’s increase alone would approach $1.4 million next year. On his way back from the Richmond meeting, Superintendent Alan Siebert said superintendents propose a phased-in approach to lessen the impact on local schools.