Taking the Mystery Out of Virginia School Finance 2nd EditionUpdated for fiscal years 2019 & 2020 Virginias school districts are fiscally dependent upon the local governing bodies, both county boards of supervisors and city councils. The local school superintendent is responsible, with the approval of the local school board, for the preparation and submission of the annual school budget to the governing bodies. The governing bodies have been given the authority by the General Assembly to have near complete