Each Virginia taxpayer’s financial burden equals $4,800. Read report here: Virginia Financial State of the State Share and Enjoy:
(Wall Street Journal) Here’s something you don’t see often these days: a government running a budget surplus. Governor Robert McDonnell announced last week that Virginia closed fiscal 2010 some $400 million in the black. That’s a radically improved financial picture from a year ago when the state faced a $4.2 billion two-year budget hole. The usual [...]
(The Washington Post) Gov. Robert F. McDonnell on Wednesday recommended adding tens of millions of dollars to the state budget to lure companies to Virginia while restricting funding for certain types of abortions and slashing state aid to public broadcasting. McDonnell (R) also proposed increasing fines for speeding by $1 for each mile over the [...]
(CanadianBusiness.com) The Virginia General Assembly on Sunday overwhelmingly passed a new two-year budget that makes unprecedented cuts to state services and programs but includes no tax increase. With little debate or dissent, the House approved the $70 billion funding plan on a 73-23 vote, while the Senate passed it 34-6, the last act of the 2010 [...]
(Newport News Daily Press) The House and Senate on Thursday gave final approval to their own versions of an austere state budget. An afternoon of partisan wrangling in the House but little debate in the Senate ended with both rival plans passing comfortably. That sets up two intensive weeks of mostly closed-door dickering over the [...]
Virginia Comptroller’s website: http://www.doa.state.va.us/ Virginia’s Comprehensive Annual Financial Reports can be found at: http://www.doa.virginia.gov/financial_reporting/cafr/cafr_main.cfm Virginia is required to pass a “balanced budget”. Article 10, Section 7 of the 1971 Constitution requires the governor to ensure that no expenses exceed the total revenues during the fiscal period. Despite this constraint the State reported three years of [...]
