• PRINT EDITIONS
  • | CONTACT
  • | TEL: 540.962.2121 | E: hello@virginianreview.com
Thursday, August 18, 2022
  • Login
  • Register
SUBSCRIBE
The Virginian Review
  • HOME
  • NEWS
    • All
    • Crime
    • Local News
    • National News
    • State News

    Joint School Services Committee To Meet

    7th Annual Beaver Dam Farm Sunflower Festival in Buchanan

    7th Annual Beaver Dam Farm Sunflower Festival in Buchanan

    DMV launches new ebpage to help customers prepare for visit

    DMV launches new ebpage to help customers prepare for visit

    Clifton Forge Public Library hosts The Rainbow Puppets

    Clifton Forge Public Library hosts The Rainbow Puppets

    Boys Home Student Mulu Slawta Completes College Orientation Workshop

    Boys Home Student Mulu Slawta Completes College Orientation Workshop

    Bath County Sheriff’s Office Weekly News Release for Aug. 7-13, 2022

    Bath County Sheriff’s Office Weekly News Release for Aug. 7-13, 2022

    Entertainment Venues In Sparsely Populated Areas Face Challenges

    Entertainment Venues In Sparsely Populated Areas Face Challenges

    Author and UVA Professor Emeritus Olivier Zunz to speak about Alexis de Tocqueville Biography

    Author and UVA Professor Emeritus Olivier Zunz to speak about Alexis de Tocqueville Biography

    OSIG finds lessons learned not implemented during I-95 snow incident

    OSIG finds lessons learned not implemented during I-95 snow incident

    Trending Tags

      • LOCAL NEWS
      • STATE NEWS
      • NATIONAL NEWS
      • Tech & Business
      • CRIME
    • COMMUNITY
    • Obituaries
    • GOVERNMENT
      • All
      • City
      • County
      • State
      Griffith: Reconciliation Bill will make cost of living crisis worse

      Griffith: Reconciliation Bill will make cost of living crisis worse

      Sixth District Perspectives with Congressman Ben Cline 8-12-22

      Sixth District Perspectives with Congressman Ben Cline 8-12-22

      Relief for Veterans Exposed to Toxic Burn Pits

      Relief for Veterans Exposed to Toxic Burn Pits

      Congressman Griffith’s Weekly E-Newsletter: So-Called Inflation Reduction Act Taxes and Spends, Won’t Reduce Inflation

      Congressman Griffith’s Weekly E-Newsletter: So-Called Inflation Reduction Act Taxes and Spends, Won’t Reduce Inflation

      No MVP in this Trading Deal?

      No MVP in this Trading Deal?

      Griffith: FBI Must Explain Raid on Mar-a-Lago

      Griffith: FBI Must Explain Raid on Mar-a-Lago

      Police Change Account Of Crash Killing Indiana Rep. Walorski

      Police Change Account Of Crash Killing Indiana Rep. Walorski

      Griffith opposes assault weapons ban

      Griffith opposes assault weapons ban

      Congressman Griffith’s Weekly E-Newsletter: A Wild Day from Wise to Washington

      Congressman Griffith’s Weekly E-Newsletter: A Wild Day from Wise to Washington

      Trending Tags

        • City
        • County
        • State
      • Sports
        • All
        • College Sports
        • High School Sports
        • Local Sports
        Disc Golf, The Next Big Sport

        Disc Golf, The Next Big Sport

        Coach Bartley Has Mounties Primed For Another Successful Season

        Coach Bartley Has Mounties Primed For Another Successful Season

        Gibson Earns Pro Status At World Tournament

        Gibson Earns Pro Status At World Tournament

        Orioles Release Roanoke Native

        Orioles Release Roanoke Native

        2022 Fall Athletics Season

        2022 Fall Athletics Season

        Pool Closing For The Season

        Pool Closing For The Season

        Alleghany Mountaineers Fall Sports Schedule

        Alleghany Mountaineers Fall Sports Schedule

        Bath County Chargers 2022 Fall Athletics Schedule

        Bath County Chargers 2022 Fall Athletics Schedule

        Covington Cougars 2022 Fall Sports Schedule

        Covington Cougars 2022 Fall Sports Schedule

        Trending Tags

          • Local Sports
          • High School Sports
          • College Sports
        • Lifestyle & Culture
        No Result
        View All Result
        • HOME
        • NEWS
          • All
          • Crime
          • Local News
          • National News
          • State News

          Joint School Services Committee To Meet

          7th Annual Beaver Dam Farm Sunflower Festival in Buchanan

          7th Annual Beaver Dam Farm Sunflower Festival in Buchanan

          DMV launches new ebpage to help customers prepare for visit

          DMV launches new ebpage to help customers prepare for visit

          Clifton Forge Public Library hosts The Rainbow Puppets

          Clifton Forge Public Library hosts The Rainbow Puppets

          Boys Home Student Mulu Slawta Completes College Orientation Workshop

          Boys Home Student Mulu Slawta Completes College Orientation Workshop

          Bath County Sheriff’s Office Weekly News Release for Aug. 7-13, 2022

          Bath County Sheriff’s Office Weekly News Release for Aug. 7-13, 2022

          Entertainment Venues In Sparsely Populated Areas Face Challenges

          Entertainment Venues In Sparsely Populated Areas Face Challenges

          Author and UVA Professor Emeritus Olivier Zunz to speak about Alexis de Tocqueville Biography

          Author and UVA Professor Emeritus Olivier Zunz to speak about Alexis de Tocqueville Biography

          OSIG finds lessons learned not implemented during I-95 snow incident

          OSIG finds lessons learned not implemented during I-95 snow incident

          Trending Tags

            • LOCAL NEWS
            • STATE NEWS
            • NATIONAL NEWS
            • Tech & Business
            • CRIME
          • COMMUNITY
          • Obituaries
          • GOVERNMENT
            • All
            • City
            • County
            • State
            Griffith: Reconciliation Bill will make cost of living crisis worse

            Griffith: Reconciliation Bill will make cost of living crisis worse

            Sixth District Perspectives with Congressman Ben Cline 8-12-22

            Sixth District Perspectives with Congressman Ben Cline 8-12-22

            Relief for Veterans Exposed to Toxic Burn Pits

            Relief for Veterans Exposed to Toxic Burn Pits

            Congressman Griffith’s Weekly E-Newsletter: So-Called Inflation Reduction Act Taxes and Spends, Won’t Reduce Inflation

            Congressman Griffith’s Weekly E-Newsletter: So-Called Inflation Reduction Act Taxes and Spends, Won’t Reduce Inflation

            No MVP in this Trading Deal?

            No MVP in this Trading Deal?

            Griffith: FBI Must Explain Raid on Mar-a-Lago

            Griffith: FBI Must Explain Raid on Mar-a-Lago

            Police Change Account Of Crash Killing Indiana Rep. Walorski

            Police Change Account Of Crash Killing Indiana Rep. Walorski

            Griffith opposes assault weapons ban

            Griffith opposes assault weapons ban

            Congressman Griffith’s Weekly E-Newsletter: A Wild Day from Wise to Washington

            Congressman Griffith’s Weekly E-Newsletter: A Wild Day from Wise to Washington

            Trending Tags

              • City
              • County
              • State
            • Sports
              • All
              • College Sports
              • High School Sports
              • Local Sports
              Disc Golf, The Next Big Sport

              Disc Golf, The Next Big Sport

              Coach Bartley Has Mounties Primed For Another Successful Season

              Coach Bartley Has Mounties Primed For Another Successful Season

              Gibson Earns Pro Status At World Tournament

              Gibson Earns Pro Status At World Tournament

              Orioles Release Roanoke Native

              Orioles Release Roanoke Native

              2022 Fall Athletics Season

              2022 Fall Athletics Season

              Pool Closing For The Season

              Pool Closing For The Season

              Alleghany Mountaineers Fall Sports Schedule

              Alleghany Mountaineers Fall Sports Schedule

              Bath County Chargers 2022 Fall Athletics Schedule

              Bath County Chargers 2022 Fall Athletics Schedule

              Covington Cougars 2022 Fall Sports Schedule

              Covington Cougars 2022 Fall Sports Schedule

              Trending Tags

                • Local Sports
                • High School Sports
                • College Sports
              • Lifestyle & Culture
              No Result
              View All Result
              The Virginian Review
              No Result
              View All Result
              Home News

              Finance Committee Findings & Recommendations

              The Virginian Review by The Virginian Review
              March 20, 2021
              in News
              Reading Time: 7 mins read
              A A
              0
              1
              SHARES
              9
              VIEWS
              Share on FacebookShare on TwitterEMAIL

              I. Background
              The Finance Subcommittee has met approximately 6 times since March concerning itself  primarily with cost savings/efficiencies gained in consolidation, the yearly budget process, an Early Retirement Incentive Package (ERIP), and how future capital expenses would be shared in a consolidated division.
              Historical and existing models for the above topics have been explored. The mergers of Alleghany County and Clifton Forge and the contractual agreement between James City County and Williamsburg City being the most prominent examples. The fiscal analysis commissioned by the JSSC and authored by Mr. James Regimbal and Mr. Richard Salmon served as the foundation for much of our discussions.
              II. Findings
              A. “Evidence of the cost savings to be realized by such consolidation” (Code § 22.1-25(D))
              The subcommittee’s main task (and only task required to move forward with a proposal) was to explore the potential cost savings that could be gained from consolidation of Covington City Public Schools and Allleghany County Public Schools. The fiscal analysis the JSSC received in December 2019 served as the backbone of these discussions. Mr. Regimbal, the principal author of the document, was able to join the subcommittee in a July 1 meeting to more deeply examine the analysis and answer subcommittee questions. While the subcommittee agreed that some numbers used in the December analysis had changed, it was unanimously agreed that the differences would be minimal and would not impact the ultimate conclusion of the analysis. The subcommittee agrees with the conclusion of the fiscal analysis that, “ Clearly, some significant savings are possible with the merger of school divisions .”.
              B. Yearly Budget Process
              Developing a budget that meets the needs of a school division and passes scrutiny of the local governing body is one of the most challenging aspects of school administration and governance. The subcommittee focused it’s budget discussion on the need to develop a solid yet adaptable process that helps to streamline the added complexity of two governing bodies coming together to fund one school division. Central to this is the development of a funding formula whereby requisite criteria can be used and plugged in annually. This can be as simple or as complex as the localities would like to make it. The simplest example the subcommittee discussed was a budget broken down and apportioned on a per pupil cost basis. More complex formulas have existed historically and have included criteria such as real estate value, personal income, local sales tax collected, etc.
              For negotiation and reconciliation, the subcommittee explored the use of conference committees populated by a set number of members from the involved bodies. Such a process is common throughout all levels of government and examples related to school funding exist currently in other parts of Virginia. It’s worth noting that in the examples explored, language was found that discussed a previously agreed rate and/or formula. Such language seems to provide a level continuity between negotiation periods.
              While previously agreed upon by the larger JSSC, the subcommittee discussed the idea of transferring debt service to the respective governing body for retirement.
              Term length for a budget agreement was explored and current examples from around the state were examined. The subcommittee believes agreements pertaining to budget issues should be well negotiated but flexible enough to allow for a changing fiscal environment. Williamsburg City and James City County, for example, renegotiate every 5 years and discussions only begin in a specific window prior to budget formulation at the end the 5 year period. This allows time for each locality to adjust for any changes in new agreement with minimal stress on future budget preparations.
              C. Early Retirement Incentive Plan (ERIP)
              Early in JSSC discussions, it was agreed that the impact of a school consolidation to faculty, staff, and their families should be minimized as much as possible and all current faculty and staff positions in both divisions be accommodated in any plan to merge the two divisions. Put simply, the desire is to not eliminate positions, but achieve a “right size” the faculty and staff situation through natural attrition and employee mobility. To this end, the Fiscal Analysis recommended an ERIP program to provide an early retirement option for teachers nearing the end of their career. There are obvious cost savings associated with this option as well, as retirement eligible faculty are nearly always at the top end of the pay scale. The analysis provided neighboring Rockbridge County as an example of a school division who has successfully employed such a program. Members of the subcommittee contacted Rockbridge County Public Schools to briefly discuss their plan and implementation, as well as changes made since initial offering. There will be initial costs associated with implementation and short term funding assistance from the state level will be vital to properly administer any plan. A “cap” of some degree to the program was also discussed, as it would be necessary for continuity and institutional knowledge sake to discourage entire departments or groups of staff from taking advantage of the ERIP program all at once.
              D. Future Capital Expenses
              Like the yearly budget process, developing a funding plan for capital expenditure in a consolidated division will be critical for the health of the division. It is equally important to establish a formula and process for equitable outlay of local dollars on necessary projects and upgrades to facilities. The subcommittee explored the possibility of using a formula the same or similar to the agreed upon yearly budget process as a basis for capital expenditure, while also realizing that individual situations may require additional negotiation as a result of property administration and/or ownership differences.
              III. Recommendations
              E. “Evidence of the cost savings to be realized by such consolidation” (Code § 22.1-25(D)) – As stated above, opportunities certainly exist for cost savings and efficiencies. The subcommittee recommends the use of the Feasibility for Consolidation of Covington City and Alleghany County School Divisions study authored by Mr. Regimbal and Mr. Salmon to show such evidence.
              Yearly Budget Process – The subcommittee recommends the use of a per pupil funding formula as the foundation for the yearly budget creation. Such a formula would likely result in relative simplicity and equity.
              Conference committees to resolve any variances, yearly budget or otherwise, seems to also be a basic and efficient method of resolution. The subcommittee recommends two members from each body involved as voting members plus executive participation as necessary.
              There was no disagreement with the JSSC by the subcommittee pertaining to debt service. It is recommended that existing school debt be transferred to the respective locality for retirement.
              The subcommittee recommends 3-5 year terms for budget agreements. Such term lengths would provide stability while retaining the ability to renegotiate o n a time table conducive to good budget preparation and projection strategies.
              Early Retirement Incentive Program (ERIP) – It is recommended by the subcommittee that an ERIP program, considering the previously mentioned limitations and constraints, be implemented by the consolidated division as one of it’s first actions. Such an adoption will ensure a smoother transition and provide a catalyst to achieving ideal staffing levels.
              Future Capital Expenses – The subcommittee recommends the development of a formula based on per pupil costs for capital expenses shared. As mentioned previously, more potential for complexity exists for capital projects, but a shared formula basis with the yearly budget process will provide stability and promote sound financial decision making.

              The Virginian Review

              The Virginian Review has been serving Covington, Clifton Forge, Alleghany County and Bath County since 1914.

              Previous Post

              Live Well Alleghany Highlands Produces New Resource Guide

              Next Post

              Rudolph Essex

              The Virginian Review

              The Virginian Review

              The Virginian Review has been serving Covington, Clifton Forge, Alleghany County and Bath County since 1914.

              Related Posts

              Local News

              Joint School Services Committee To Meet

              by Virginian Review Staff
              August 18, 2022
              7th Annual Beaver Dam Farm Sunflower Festival in Buchanan
              State News

              7th Annual Beaver Dam Farm Sunflower Festival in Buchanan

              by The Virginian Review
              August 17, 2022
              DMV launches new ebpage to help customers prepare for visit
              State News

              DMV launches new ebpage to help customers prepare for visit

              by The Virginian Review
              August 17, 2022
              Clifton Forge Public Library hosts The Rainbow Puppets
              Local News

              Clifton Forge Public Library hosts The Rainbow Puppets

              by The Virginian Review
              August 17, 2022
              Boys Home Student Mulu Slawta Completes College Orientation Workshop
              Local News

              Boys Home Student Mulu Slawta Completes College Orientation Workshop

              by The Virginian Review
              August 17, 2022
              Load More
              Next Post

              Rudolph Essex

              Leave a Reply Cancel reply

              Your email address will not be published. Required fields are marked *

              Griffith: Reconciliation Bill will make cost of living crisis worse

              Griffith: Reconciliation Bill will make cost of living crisis worse

              August 17, 2022
              Sixth District Perspectives with Congressman Ben Cline 8-12-22

              Sixth District Perspectives with Congressman Ben Cline 8-12-22

              August 15, 2022
              Relief for Veterans Exposed to Toxic Burn Pits

              Relief for Veterans Exposed to Toxic Burn Pits

              August 15, 2022
              Congressman Griffith’s Weekly E-Newsletter: So-Called Inflation Reduction Act Taxes and Spends, Won’t Reduce Inflation

              Congressman Griffith’s Weekly E-Newsletter: So-Called Inflation Reduction Act Taxes and Spends, Won’t Reduce Inflation

              August 10, 2022

              Browse by Category

              • No categories

              Browse by Tags

              Alleghany County Business Child Clifton Clifton Forge College Community County Covington Dear Abby Death Echoes of the Past Education Experience Family Featured Forge Hand Health Home Individual Information Law Meeting Music Nation Night Office Official OK Parent Past People Report Road School Street Student Team Time Tree VA Virginia War West
              QR Code
              The Virginian Review

              Serving Covington, Clifton Forge, Alleghany County and Bath County Since 1914.

              Information

              • Privacy Policy
              • Terms & Conditions
              • Careers
              • Contact Us

              © 2022 The Virginian Review | All Rights Reserved. | Powered by Ecent Corporation

              No Result
              View All Result
              • Login
              • __________________
              • Home
              • Editions
              • News
              • Community
              • Obituaries
              • Sports
              • Government
              • Lifestyle & Culture
              • __________________
              • Contact Us
              • Careers
              • Subscribe
              • Terms & Conditions
              • Privacy Policy

              © 2022 The Virginian Review | All Rights Reserved. | Powered by Ecent Corporation

              Welcome Back!

              Sign In with Facebook
              Sign In with Google
              OR

              Login to your account below

              Forgotten Password? Sign Up

              Create New Account!

              Sign Up with Facebook
              Sign Up with Google
              OR

              Fill the forms bellow to register

              All fields are required. Log In

              Retrieve your password

              Please enter your username or email address to reset your password.

              Log In