Sign In or Register here

Governor McDonnell Announces $448.5 Million Budget Surplus For Fiscal Year 2012 - Source Alexandria News

Posted on Aug 16,2012
Filed Under Down In Richmond , Politics,

Virginia Governor Bob McDonnell (Courtesy Photo)
Virginia Governor Bob McDonnell (Courtesy Photo)

Source Alexandria News

RICHMOND – Governor Bob McDonnell announced today during his annual remarks to the annual meeting of the General Assembly Joint Money Committees that Virginia has posted a total revenue and savings surplus of $448.5 million dollars for FY 2012. The surplus follows the Commonwealth's $544.8 million surplus in FY 2011 and $403.3 million surplus for FY 2010. The total FY 2012 surplus consists of the previously announced revenue surplus of $129.2 million along with $187.0 million in state agency savings and agency balances, and $132.3 million in higher education and other unexpectedness non-general funds.

Speaking about the surpluses, the governor remarked, "This is the third time that I have appeared before you to review the year-end financial position of the Commonwealth. In these three years, I have now announced revenue surpluses and budget savings totaling nearly $1.4 billion. That’s not bad for any state in this economy

Read Full Article

Loading Loading..

Shopping and Services Guide

Exclusive deals from the best locals!

Browse our highlighted partners
Spas, retailers, restaurants and…
so much more.