This article presents the state education finance and governance profile of Virginia. The state allocates K-12 education funds on a biennial basis. Supplements and rescissions to the original funding amount are made on an annual basis in order to correct for revenue growth or deficit. The state budget currently provides more than $5 billion to finance public school operations. Virginia allocates resources through a funding formula that accounts for both the Average Daily Membership levels in a district and the local government's ability-to-pay for the cost of education. The state's 1.35 million students attend 1,880 public schools in 136 school districts. Most municipalities and counties elect their local school boards, but on the state level, the governor appoints the Chief School Officer and state board, but the General Assembly must confirm state education appointees. (Contains 1 table.)