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Old 07-14-2012, 04:07 PM
 
672 posts, read 1,012,623 times
Reputation: 597

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In these bleak economic times how does Virginia have a State budget surplus for a third year in a roll with out hiking taxes like our friends across the Potomac and MD still has budget issues!


Just how big a surplus we can’t say, but Gov. Robert F. McDonnell (R) let it be known Friday that the state was in the black for the fiscal year that ended June 30.

McDonnell shared news of the surplus at the National Governors Association meeting in Williamsburg, my colleague Anita Kumar reports. But he did not provide details.

Last year in August, McDonnell announced that the state had finished the previous fiscal year with a surplus of $544.8 million.

Last edited by elias9193; 07-14-2012 at 04:16 PM..
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Old 07-14-2012, 04:37 PM
 
19,183 posts, read 28,328,017 times
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Last year, McDonnell "borrowed" several hundred million dollars from the public employee pension fund in order to claim a surplus, and also counted millions borrowed to cover obligations incurred by the state's exhausted unemployment fund. Who knows what sorts of phony accounting he will have turned to this year...
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Old 07-14-2012, 04:45 PM
 
672 posts, read 1,012,623 times
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Quote:
Originally Posted by saganista View Post
Last year, McDonnell "borrowed" several hundred million dollars from the public employee pension fund in order to claim a surplus, and also counted millions borrowed to cover obligations incurred by the state's exhausted unemployment fund. Who knows what sorts of phony accounting he will have turned to this year...
You have any links to substantiate your allegations?
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Old 07-14-2012, 05:37 PM
 
882 posts, read 1,776,128 times
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No, sad doesn't.
Note that VA runs on a biennial budget, and here's the entire list of transfers:

http://dpb.virginia.gov/budget/buddo...stransfers.pdf

Note that interfund transfers are lower this time around...
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Old 07-14-2012, 05:52 PM
 
672 posts, read 1,012,623 times
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Quote:
Originally Posted by Jayess1 View Post
No, sad doesn't.
Note that VA runs on a biennial budget, and here's the entire list of transfers:

http://dpb.virginia.gov/budget/buddo...stransfers.pdf

Note that interfund transfers are lower this time around...
Thank you this is very informative.
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Old 07-14-2012, 05:58 PM
 
Location: Everywhere and Nowhere
14,131 posts, read 27,018,995 times
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Isn't it mainly due to the explosion of Federal government contracting work from the Bush years that pumped up revenues relative to the increased cost of Medicaid that's sapped other states' budgets?
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Old 07-14-2012, 06:09 PM
 
19,183 posts, read 28,328,017 times
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Quote:
Originally Posted by elias9193 View Post
You have any links to substantiate your allegations?
Quote:
Originally Posted by Jayess1 View Post
No, sad doesn't. Note that VA runs on a biennial budget, and here's the entire list of transfers:
http://dpb.virginia.gov/budget/buddo...stransfers.pdf
Note that interfund transfers are lower this time around...
Still not paying any attention and not willing to listen to those who do. THAT'S sad...

Wall Street Journal

Richmond Times Dispatch

Washington Post
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Old 07-15-2012, 08:51 AM
 
31 posts, read 52,234 times
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By not being a friend to the state employees who are professionals living in substandard housing living paycheck to paycheck. That certainly helps.
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Old 07-15-2012, 08:59 AM
 
Location: Everywhere and Nowhere
14,131 posts, read 27,018,995 times
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Quote:
Originally Posted by midwesterneratheart View Post
By not being a friend to the state employees who are professionals living in substandard housing living paycheck to paycheck. That certainly helps.
Nobody's forcing them to work there.
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Old 07-15-2012, 04:42 PM
 
882 posts, read 1,776,128 times
Reputation: 592
Quote:
Originally Posted by saganista View Post
Still not paying any attention and not willing to listen to those who do. THAT'S sad...

Wall Street Journal

Richmond Times Dispatch

Washington Post
Ah, so listening to the actual budgets presented by even the previous Governor is somehow in dispute? You're right - that's sad. Shame you don't want to believe Gov. Kaine. Is that perhaps due to his political affiliation?

Quote:
Originally Posted by CAVA1990 View Post
Isn't it mainly due to the explosion of Federal government contracting work from the Bush years that pumped up revenues relative to the increased cost of Medicaid that's sapped other states' budgets?
Not at all. It's due to the simple expedient of more income & less expenditures, dating back thru the previous adminstration. + to VA budget processes.

Last edited by Jayess1; 07-15-2012 at 05:03 PM..
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