Governor McDonnell: State's Cash Reserve to Approach $1 Billion

August 12, 2013

Governor Bob McDonnell says Virginia will be able to beef up its "rainy day" cash reserve fund to almost $1 billion from the past fiscal year's surplus.

McDonnell says that unspent state appropriations combined with the revenue surplus would allow the state to make a substantial deposit into the fund.

He will announce details of the surplus next week when he addresses the General Assembly's budget-writing committees.

McDonnell is on a seven-day, 22-city tour of Virginia.

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