Post by Logan on Jun 17, 2016 4:41:11 GMT -6
RICHMOND, Va. (AP) — Virginia's revenues grew by 6.4 percent in May, lowering the risk of a year-end shortfall that could delay scheduled raises for state employees.
The Richmond Times-Dispatch (http://bit.ly/1U8tcyr ) reports that Virginia still lags behind projected revenue growth for the fiscal year that ends June 30.
House Appropriations Chairman S. Chris Jones said Monday that the state has to make up more than $220 million by the end of the month to reach projections.
If revenues fall short by more than 1 percent, state law requires a revenue reforecast that would delay raises for employees in the budget. Virginia is currently 1.3 percentage points behind the projection.
Read more: www.fredericksburg.com/news/virginia/virginia-s-revenues-grow-lowering-risk-of-shortfall/article_2a2e51ee-f10e-5d9c-a59a-1b07e6d23c4b.html
The Richmond Times-Dispatch (http://bit.ly/1U8tcyr ) reports that Virginia still lags behind projected revenue growth for the fiscal year that ends June 30.
House Appropriations Chairman S. Chris Jones said Monday that the state has to make up more than $220 million by the end of the month to reach projections.
If revenues fall short by more than 1 percent, state law requires a revenue reforecast that would delay raises for employees in the budget. Virginia is currently 1.3 percentage points behind the projection.
Read more: www.fredericksburg.com/news/virginia/virginia-s-revenues-grow-lowering-risk-of-shortfall/article_2a2e51ee-f10e-5d9c-a59a-1b07e6d23c4b.html