Local Legislators React to State Surplus Funds Being Spoken For

Virginia Gov. Bob McDonnell’s Monday announcement that the commonwealth recorded a $129 million surplus for the recent fiscal year brought a mixed reaction from local legislators and other elected officials.

They are pleased that the state has frugally managed its resources, but say the governor’s announcement makes it sound as if a windfall is going to local governments and citizens.

Instead, the bulk of the funds – more than $78 million – will go to Virginia’s Rainy Day fund. This appropriation will bring the fund to $690 million -- its largest total since 2008.

Read More - Local Legislators React to State Surplus Funds Being Spoken For - The News Leader

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published this page in Blog 2012-08-15 12:59:09 -0400