Virginia Ends Fiscal Year '13 With Another Surplus - 47 ABC - Delmarva's Choice

Virginia Ends Fiscal Year '13 With Another Surplus

Posted: Updated:

RICHMOND, Va. - For the fourth consecutive year, Virginia government has ended a budget year in the black, and this time it means state employees get their first pay raise in six years.
    
Gov. Bob McDonnell's administration announced the $262 million general revenue surplus on Friday. But its final size won't be known until August when unspent agency balances and other cost-control measures are added in.
    
Employees received one-time bonuses last year and in 2010. This year's raise becomes the first permanent increase in base salaries for state government personnel since 2007, before two years of revenue declines tied to the worst economy since the Great Depression.
    
Total general revenue collections increased 5.3 percent, easily beating 3.6 percent growth forecast on which budgeted fiscal year 2013 spending was based.

(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Local NewsDelmarva HeadlinesMore>>

  • Unemployment Recovery Still Slow On Delmarva

    Unemployment Recovery Still Slow On Delmarva

    Wednesday, September 3 2014 12:05 AM EDT2014-09-03 04:05:34 GMT
    DELMARVA – For many on Delmarva, Labor Day wasn't a break from work, because there was no work from which a break could be taken. The latest statistics show that in Delaware, out of the 450,000 personMore >>
    DELMARVA – For many on Delmarva, Labor Day wasn't a break from work, because there was no work from which a break could be taken.More >>
  • Delaware Primary Next Tuesday

    Delaware Primary Next Tuesday

    Tuesday, September 2 2014 11:47 PM EDT2014-09-03 03:47:04 GMT
    DELAWARE – Next Tuesday, September 9th, Delaware voters will have the chance to exercise their civic rights. On the primary ballot this year for U.S. Senate, Republican businessman Kevin Wade faces CarlMore >>
    DELAWARE – Next Tuesday, September 9th, Delaware voters will have the chance to exercise their civic rights.More >>
  • Questions Still Unanswered After Plane Crash

    Questions Still Unanswered After Plane Crash

    Tuesday, September 2 2014 11:44 PM EDT2014-09-03 03:44:33 GMT
    CHINCOTEAGUE ISLAND, Va. - A small plane whose pilot was reportedly unconscious at the controls crashed into the Atlantic Ocean Saturday. The ordeal involved a number of agencies, on land and at sea, butMore >>
    CHINCOTEAGUE ISLAND, Va. - A small plane whose pilot was reportedly unconscious at the controls crashed into the Atlantic Ocean Saturday. The ordeal involved a number of agencies, on land and at sea, but there are still questions about the investigation.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.