McDonnell: Most of $404M Budget Surplus Spoken For

August 19, 2010

Gov. Bob McDonnell says most of the state's unexpected $404 million surplus has already been spoken for.

In an address to state lawmakers Thursday, McDonnell says a lot
of the surplus will go toward covering a pay bonus to 117,000 state workers, the Water Quality Improvement Fund and transportation.

Those obligations will account for $150 million.

McDonnell says he would like to reserve as much of the remaining balance for transportation efforts and to repay millions of dollars the Generally Assembly took from the state's retirement system to prop up the current state budget.

The surplus for the fiscal year that ended June 30 was far larger than the $220 million McDonnell originally projected. Of that, $174 million came from state agency savings.

The comments sections of are designed for thoughtful, intelligent conversation and debate. We want to hear from our viewers, but we ask that you follow our rules for commenting. E-mail is required to comment on a story, but it will not be displayed with your comment. For complete rules, CLICK HERE. The Newsplex reserves the right to not post or to remove any comment.
powered by Disqus
The Charlottesville Newsplex 999 2nd Street S.E. Charlottesville, VA 22902 434.242.1919 – Main 434.220.7522 - Newsroom
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 101098689 -
Gray Television, Inc.