Virginia Beach City Public Schools (VBCPS) has continued to maintain record levels with respect to the On-Time Graduation (OTG) rate, which stands at 96.1% for the 2024 cohort year, and dropout rate of 2.1%. VBCPS also outperformed Virginia's rates of 92.8% for OTG and 4.5% for dropouts.
Budget
To provide a stable source of local funding for public schools, the City Council first adopted the City/School Revenue Sharing Policy in 1997 and revised the agreement in December 2015. Within the policy, the discretionary local match allocates local tax revenues to VBCPS using the Revenue Sharing Formula and a real estate tax dedication. There are 14 non-dedicated local tax revenue streams used to calculate the RSF: real estate taxes; personal property taxes; general sales taxes; utility taxes; Virginia telecommunications taxes; Business Permit and Occupational License (BPOL) taxes; cable franchise taxes; cigarette taxes; hotel room taxes; restaurant meals taxes; automobile license taxes; bank net capital taxes; city taxes on deeds; and city taxes on wills.
Resources
*A hard copy of this document is available for review in the School Administration Building.