Virginia Surplus Will Total $311M: AP | NBC4 Washington

Virginia Surplus Will Total $311M: 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.

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