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To request that the Chief Administrative Officer cause to be established a work group to work in collaboration with Richmond Public Schools to develop a funding formula for allocating General Fund revenues annually for school operating expenses and a plan for implementation in the Fiscal Year 2027 General Fund Budget.
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WHEREAS, the Mayor and the Council believe that it is in the best interests of the citizens of the City of Richmond that the Council establish a procedure (the "Funding Formula") that provides a predictable and objective methodology for allocating General Fund revenues estimated to be available in any given fiscal year for the operating expenses of the Richmond Public Schools (the "School Operating Expenses"), while providing a balance between the funding requirements for School Operating Expenses and City programs; and
WHEREAS, the Council believes that it is in the best interests of the citizens of the City of Richmond that the Council request that the Chief Administrative Officer cause to be established a work group to work in collaboration with Richmond Public Schools to develop a Funding Formula for allocating General Fund revenues annually for School Operating Expenses and a plan for the implementation of such formula in the fiscal year commencing July 1, 2026, and ending June 30, 2027;
NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF RICHMOND:
That the Council hereby requests that the Chief Administrative Officer cause to be established a work group to work in collaboration with Richmond Public Schools to develop a Funding Formula that provides a predictable and objective methodology for allocating General Fund revenues estimated to be available in any given fiscal year for School Operating Expenses, while providing a balance between the funding requirements for School Operating Expenses and City programs.
BE IT FURTHER RESOLVED:
That the workgroup for which this resolution calls shall consi...
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