Governor McDonnell Announces $448.5 Million Budget Surplus for Fiscal Year 2012

Archived Video Stream - August 15, 2012

Governor Bob McDonnell announced today during his annual remarks to the annual meeting of the General Assembly Joint Money Committees that Virginia has posted a total revenue and savings surplus of $448.5 million dollars for FY 2012. The surplus follows the Commonwealth's $544.8 million surplus in FY 2011 and $403.3 million surplus for FY 2010.

The total FY 2012 surplus consists of the previously announced revenue surplus of $129.2 million along with $187.0 million in state agency savings and agency balances, and $132.3 million in higher education and other unexpended non-general funds.

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