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ACCORDING to Godwin, only about 45 percent of the state’s General Fund budget goes toward financing state agencies and institutions, compared “to some 55 per cent returning to the localities in funds or in services they would otherwise have to provide.” Godwin’s option would require that the additional reductions placed on the state government would be retroactive to last July 1, while the reductions in money returned to the localities would not be effective until July 1, 1977, “permitting local governments necessary time to make adjustments,” the Governor’s memorandum to the local governments states.
Should the Governor’s option be put into effect, the revenue losses to the local governments for the coming fiscal year will be sizeable. In Rappahannock County the total reduction in county revenues would be $89,140. The 7 1/2 per cent reduction in Basic School Aid to the county would be $21,657; the 30 per cent reduction in returned state sales tax equals $52,421; and the lower estimate of projected sales tax for fiscal year 1977-78 would reduce Rappahannock County’s share by $15,062.
By using the same formula, Clarke County can expect a shortfall in state revenues of $144,098; the 7 1/2 per cent Basic School Aid cut is $39,672; the 30 percent
96.3%