At its February 27 meeting, the school board made a historic investment in HCPS employees and students by approving a budget that prioritizes competitive wages and critical classroom resources for the 2025-26 school year.

The development of the annual school budget plan is a complex and detailed process. Each year, the school board and Dr. Cashwell strive to provide not only what our students and staff need, but also the resources and compensation they deserve and the quality learning opportunities that our community has come to expect from Henrico County Public Schools. As responsible stewards of taxpayer money, they start by reviewing divisionwide priorities and goals in the context of what can reasonably be expected when the state budget and local allocations are formalized.

With multiple funding sources, unfunded mandates and uncertainty about state aid for schools, putting together a spending plan is complex and sometimes challenging to understand. This page breaks down budget information so that families, employees and stakeholders can easily see how the school division is funded and where HCPS plans to spend the money.

The spending plan approved by the school board on Feb. 27 reflects a commitment to academic excellence, safety and wellness, and recruitment and retention of exemplary educators and staff. Division leaders have taken taking a conservative fiscal approach while providing innovative instructional programs, real-world experiences for students and wraparound services to support the whole child. Totaling approximately $734 million — a 4.2% increase over the current budget —the FY2026 spending plan makes a significant investment in instructional resources for students of all abilities, program growth at the Campus at Virginia Randolph and the expansion of the Opportunity Schools initiative with the inclusion of Harold Ratcliffe Elementary School and Brookland Middle School. The budget also makes permanent some essential programs and services that were previously funded through pandemic recovery grants.

FY2026 budget highlights include:

• 53 school security officers (previously funded through pandemic recovery funds) and three security supervisors to support student and staff safety at all schools with particular focus on open-campus middle and high schools.

• 5 school counselors to support the second-year implementation of the Henrico CARES initiative.

• 83 positions associated with providing planning time at our elementary schools.

• 15 English as a Second Language instructional staff

• 52 positions to support expanded programming at the Campus of Virginia Randolph.

• An offset of increasing group health care premiums through an increase in the employer’s share, meaning employees will see little to no increase in calendar year 2025.

• New and increased extracurricular sponsorship stipends for employees.

• Expanded eligibility for participation in the Career Ladder expansion to include classified staff and leadership positions.

As a reminder, HCPS employee raises are considered as part of the Henrico County municipal budget development. While any raise will not be approved until this spring, Dr. Cashwell has already shared her recommendation for a 6% across-the-board salary increase for all returning full-time HCPS employees.

Additionally, more than 1,000 support staff members—including instructional assistants, custodial workers, and maintenance assistants—will receive market adjustments that will bring their total salary increases to anywhere from 13.8% to 19.3%. HCPS is also taking steps to increase compensation for School Nutrition Services (SNS) staff beyond the 6% raise while finalizing the department's self-supporting SNS budget.