Virginia Governor Pledges Overhaul of Outdated K-12 School Funding Formula

Virginia Governor Abigail Spanberger has committed to adjusting the state's K-12 funding formula, which is over 50 years old and does not adequately reflect the real costs of operating schools. A state research group found the formula needs substantial changes and advanced a plan to hire an expert to study a new funding mechanism for up to 24 months. The existing formula has forced local governments to spend significantly more on K-12 education than the state.