Virginia
Public finance
Virginia's resources are divided equally into two portions: the general fund (which comes from general state taxes), and the non-general fund (which is used for set purposes). Total general funds for 2002 were forecast at over $12 billion, 64% from individual income taxes, 20% from sales taxes, and 4% from corporate taxes. Growth in receipts from each area was expected to average 10% annually between 1999 and 2002, except for corporate taxes, which were expected to decline. Non-general fund revenue was expected to total $11 billion in 2002, primarily from federal grants and contracts (40%), and institutional revenue (23%). The governor's 2000–02 budget emphasized a property tax phase-out, including others; it encouraged tourism attraction and economic development, technological expansion, educational funding, health care improvements, and transportation and environment stewardship. The following table from the US Census Bureau contains information on revenues, expenditures, indebtedness, and cash/securities for 2001.
| ($000) | PERCENT | PER CAPITA | |
| Population (thousands, 2001) | 7,197 | (X) | (X) |
| Total Revenue | 22,760,130 | 100.00 | 3,162.45 |
| General revenue | 24,193,607 | 106.30 | 3,361.62 |
| Liquor store revenue | 319,363 | 1.40 | 44.37 |
| Insurance trust revenue | –1,752,840 | –7.70 | –243.55 |
| Exhibit: Salaries and wages | 4,508,433 | 16.83 | 626.43 |
| Total expenditure | 26,786,593 | 100.00 | 3,721.91 |
| General expenditure | 24,869,440 | 92.84 | 3,455.53 |
| Education | 9,385,965 | 35.04 | 1,304.15 |
| Public welfare | 4,401,313 | 16.43 | 611.55 |
| Hospitals | 1,667,367 | 6.22 | 231.68 |
| Health | 706,790 | 2.64 | 98.21 |
| Highways | 2,616,685 | 9.77 | 363.58 |
| Police protection | 544,706 | 2.03 | 75.69 |
| Correction | 1,247,296 | 4.66 | 173.31 |
| Natural resources | 216,844 | 0.81 | 30.13 |
| Parks and recreation | 120,544 | 0.45 | 16.75 |
| Government administration | 1,061,261 | 3.96 | 147.46 |
| Interest on general debt | 848,467 | 3.17 | 117.89 |
| Other and unallocable | 2,052,202 | 7.66 | 285.15 |
| Utility expenditure | 25,743 | 0.10 | 3.58 |
| Liquor store expenditure | 288,119 | 1.08 | 40.03 |
| Insurance trust expenditure | 1,603,291 | 5.99 | 222.77 |
| Debt at end of fiscal year | 12,963,092 | 100.00 | 1,801.18 |
| Cash and security holdings | 55,169,437 | 100.00 | 7,665.62 |