School Operations: Local Funding

Inspire and empower all learners to thrive.

The School Board:

• Provides programs and services that encourage all students to graduate from high school.
• Provides teachers with adequate materials, supplies, instructional assistance, and administrative support.
• Acknowledges the school principal as the key person in establishing a favorable school culture.
• Encourages parents to be essential partners in students' social, intellectual, and psychological development.
• Provides services to help students understand social issues and peer pressure, enabling them to plan for the future.

FY2023 Proposed Budget includes a change in accounting practice related to debt service and the recording of Refunded Bonds. The process of refunding debt allows the County to re-issue debt at more favorable rates. When debt issued through the Virginia Public School Authority (VPSA) is refunded, the original debt is paid as it was initially scheduled. The refund savings are issued back as a credit (revenue) within the same fiscal year. For example, if the annual debt service had been $100, and due to refunding it will reduce the net payment to $80, Stafford County would continue to pay out $100 and receive the $20 credit as a revenue source.

Prior to the FY2023 Proposed Budget, debt service was provided net of refunding. In the FY2023 Proposed Budget, the revenue projections include $1,114,557 in refunding. Debt service, net of refunding, is $29,082,714.

Operating

Debt

Capital