2002 Session

Budget Amendments - SB29 (Member Request)

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Chief Patron: Houck
Fredericksburg Composite Index Correction

Item 143 #2s

Item 143 #2s

First Year - FY2001 Second Year - FY2002
Education: Elementary and Secondary
Direct Aid To Public Education FY2001 $0 FY2002 $358,577 GF

Page 120, line 24, strike "$2,549,995,255" and insert "$2,550,353,832".
Page 135, after line 30, insert:  
"e.  An additional payment of $358,577 the second year from the general fund shall be disbursed by the Department of Education to the City of Fredericksburg Public Schools to correct an error in a constituent index element in the City's composite index of local ability-to-pay.  An error in reporting resident adjusted gross income in the 1997 tax returns resulted in the overstatement of the City's relative wealth.  This is a one-time payment."

(This amendment is self-explanatory.)