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McDonnell: Virginia's Cash Reserve to Approach $1B

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    NEWSLETTERS

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

    Making the final August multi-city tour of his soon-to-end term, McDonnell told reporters 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.