WHAT WE FOUND

In FY23, the state spent $7.5 billion to fund Virginia’s constitutionally mandated K–12 standards of quality (SOQ). This equates to an average of $6,163 for each of the state’s 1.2 million elementary and secondary school students.

• FY23 total state SOQ spending was 10 percent more than FY22 spending.

• The spending increase was primarily because of increases in the basic aid account (generally used for staffing costs) and two additional funding categories related to enrollment declines during the pandemic and supplemental funding for lost sales tax revenue.

• Recent spending increases have been more than offset by inflation, which has outpaced state SOQ spending during the last two years.

• Fairfax County has by far the most K–12 students and received the most SOQ funds, $814 million, in FY23.

• Craig County received the most state SOQ funds per student, $9,198.

• Goochland County, which is among the localities with the highest local ability to pay, received the least state SOQ funds per student, $3,396.