May 17, 2010
Virginia state government's top money officer says a troubled fiscal year of persistent shortfalls could end next month with a small surplus.
Finance Secretary Ric Brown said Monday that with a small monthly boost in tax collections in April, Virginia has posted consecutive monthly gains for the first time in two years.
He said if general fund collections for May and June keep pace with last year, Virginia will end fiscal 2010 with an unspent balance of about $140 million.
But lawmakers remain wary. Citing continued weakness in the mortgage lending industry and poor employment figures, Virginia Beach Republican Del. Robert Tata questioned so rosy a picture.