RD331 - Annual Report to the General Assembly on the Updates to the Standards of Quality - November 15, 2009


Executive Summary:
In accordance with Chapter 781, 2009 Acts of Assembly, the Department of Planning and Budget (DPB) in coordination with the Department of Education (DOE) has prepared the annual report on the update to the Standards of Quality (SOQ), based upon the most current data available. This report includes technical updates to the SOQ accounts that are calculated on an annual basis as well as biennial updates associated with the rebenchmarking process. Enrollment updates are not included in this report because the data submitted by school divisions are still being verified by DOE at the time of this publication.

Specifically, this report contains the following updates and projected state costs for the Standards of Quality in fiscal year 2010 and the 2010-2012 biennium:

• Updates for the Rebenchmarking process approved by the Board of Education

• Update of the Composite Index for the 2010-2012 biennium

• Update of the Sales Tax estimate for public education (based on the August 2009 interim revenue forecast).