Virginia Surplus Will Total $311 Million - WSET.com - ABC13

Virginia Surplus Will Total $311 Million

Posted:

RICHMOND, Va. (AP) -- Documents obtained by The Associated Press show that Virginia's government ended its last fiscal year on June 30 with an unspent balance of $311 million.

Gov. Bob McDonnell plans to detail how state government ended the year in the black at a Tuesday news conference.

A draft analysis of final revenues for fiscal 2011 shows the bulk of the surplus comes from individual income tax collections. They exceeded official budgeted forecasts by nearly $200 million.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

APNP 07-19-11 0516EDT

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