McDonnell: Virginia's Cash Reserve to Approach $1B | NBC4 Washington
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McDonnell: Virginia's Cash Reserve to Approach $1B

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    NEWSLETTERS

    A beloved teacher and her 2-year-old daughter died Tuesday after they were found shot outside their home in Fort Washington, Maryland, officials say. (Published Wednesday, Feb. 3, 2016)

    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.