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Virginia

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    • Headlines

      Lawmakers Jockey Over Budget Surpluses

      Stateline | by Elaine S. Povich | April 22, 2014

      According to NASBO, Kentucky and many other states have put the emphasis on restoring funding to education this year. A still incomplete survey of states showed that the vast majority are increasing elementary and secondary education funding, along with transportation and infrastructure.

    • Headlines : Virginia

      Lawmakers return for veto session with budget at standstill

      The Richmond Times-Dispatch | by Jim Nolan | April 22, 2014

      Lawmakers return to Richmond Wednesday to consider Governor Terry McAuliffe's vetoes and amendments with the most important piece of legislation -- the budget -- still unresolved, and unlikely to shift from its partisan standoff.

    • Headlines

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Headlines

      State government dependence on federal funding growing at alarming rate

      The Washington Examiner | by David Freddoso | April 15, 2014

      Only 11 states depended on the federal government for more than one-third of their total revenues in 2001. By 2012, 24 states found themselves in this situation. SBS partnered with the Washington Examiner partnered to expose this trend of increased state dependency.

    • Headlines

      Rich States, Poor States

      ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

      Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

    • Budget timeframe: Biennial

      Fiscal Year begins: July 1 

      The current state budget can be found here.

      Find the legislative session calendar here.

      Find the current legislative leaders here.


      VA Gov. McDonnellGov. Robert McDonnell
      Office of Governor Bob McDonnell
      Patrick Henry Building
      1111 East Broad Street, 3rd Floor
      Richmond, VA 23219
      Phone: (804) 786-2211
      Fax: (804) 371-6351
      http://www.governor.virginia.gov/

       

       

       

       

      Daniel Timberlake, Director
      Department of Planning & Budget
      1111 East Broad Street, 5th Floor
      Richmond, VA 23219-1922
      Phone (804) 786-7455
      Fax (804) 225-3291
      http://dpb.virginia.gov/

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2012 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities

       

      Virginia is required to pass a "balanced budget." Article 10, Section 7 of the 1971 Constitution requires the governor to ensure that no expenses exceed the total revenues during the fiscal period. Despite this constraint the State reported three years of budget deficits (negative net transactions) on its Budgetary Comparison Schedules. Virginia law forbids the carrying over of a deficit from one year to the next.

       

      The Commonwealth reports 14 (12 for FY2006 and FY2005) individual governmental funds, four of which are considered major: the General, Commonwealth Transportation, Federal Trust, and Literary funds. Each year, three of the major funds (all except for the Literary Fund) and several non-major funds are budgeted. For FY2007, one more non-major governmental fund is budgeted than in previous years. Overall, budgetary information on the Budgetary Comparison Schedules is displayed in an efficient manner with all information present and ideally ordered. [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

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    • Budget Gimmicks :

    • HEADLINES: Virginia

      McAuliffe quietly amends bills to add budget catch

      The Virginian-Pilot | by Julian Walker | April 8, 2014

      The Democratic governor has quietly amended at least 11 bills - mostly Republican - so they wouldn't take effect until Virginia has a budget, an assertion of authority by McAuliffe.

    • HEADLINES

      States use gimmicks, late payments and accounting tricks to meet balanced budget requirements

      The Washington Examiner | by Mark Flatten | February 18, 2014

      Paying bills late, selling buildings and swiping money from special accounts are some of the gimmicks states are using to bypass balanced budget requirements, according to an SBS report on the tricks being used to paper over deep deficits.

    • View All Virginia articles
    • Pensions :

    • HEADLINES

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • HEADLINES

      Pew's latest pension report understates unfunded liabilities, but still shows growing pension problem

      by Cory Eucalitto | April 4, 2014

      While Pew's report relies directly on state-reported numbers that understate the size of unfunded liabilities, it nonetheless shows tremendous growth in unfunded liabilities since 2008.

    • View All Virginia articles
    • K-12 Education :

    • HEADLINES

      Lawmakers Jockey Over Budget Surpluses

      Stateline | by Elaine S. Povich | April 22, 2014

      According to NASBO, Kentucky and many other states have put the emphasis on restoring funding to education this year. A still incomplete survey of states showed that the vast majority are increasing elementary and secondary education funding, along with transportation and infrastructure.

    • HEADLINES

      Common-Core Tensions Cause Union Heartburn

      Education Week | by Andrew Ujifusa and Stephen Sawchuk | February 20, 2014

      From the early days of the Common Core State Standards, the two national teachers' unions have been among the initiative's biggest boosters, helping to make the case to the nation's 3.5 million teachers for the tougher expectations and putting significant money into the development of aligned curricula and tools.

      But in some union quarters, that support is starting to waver—the product of flawed implementation in states, concerns about the fast timeline for new testing tied to the standards, and, in at least one instance, fallout from internal state-union politics.

    • View All Virginia articles
    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.

    • Headlines

      Lawmakers Jockey Over Budget Surpluses

      Stateline | by Elaine S. Povich | April 22, 2014

      According to NASBO, Kentucky and many other states have put the emphasis on restoring funding to education this year. A still incomplete survey of states showed that the vast majority are increasing elementary and secondary education funding, along with transportation and infrastructure.

    • HEADLINES

      Lawmakers Jockey Over Budget Surpluses

      Stateline | by Elaine S. Povich | April 22, 2014

      According to NASBO, Kentucky and many other states have put the emphasis on restoring funding to education this year. A still incomplete survey of states showed that the vast majority are increasing elementary and secondary education funding, along with transportation and infrastructure.

    • Headlines : Virginia

      Lawmakers return for veto session with budget at standstill

      The Richmond Times-Dispatch | by Jim Nolan | April 22, 2014

      Lawmakers return to Richmond Wednesday to consider Governor Terry McAuliffe's vetoes and amendments with the most important piece of legislation -- the budget -- still unresolved, and unlikely to shift from its partisan standoff.

    • Headlines

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • HEADLINES

      Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Pace of pension reform ebbs after 49 states change laws

      Hazel Bradford | by Pensions & Investments | April 15, 2014

      While the sense of urgency has diminished, reform attempts have become a legislative staple, as public retirement systems continue to grapple with unfunded liabilities and political pressure to change.

    • Headlines

      State government dependence on federal funding growing at alarming rate

      The Washington Examiner | by David Freddoso | April 15, 2014

      Only 11 states depended on the federal government for more than one-third of their total revenues in 2001. By 2012, 24 states found themselves in this situation. SBS partnered with the Washington Examiner partnered to expose this trend of increased state dependency.

    • Headlines

      Rich States, Poor States

      ALEC | by Arthur B. Laffer, Stephen Moore and Jonathan Williams | April 15, 2014

      Using years of economic data and empirical evidence from each state, the authors identify which policies can lead a state to economic prosperity. Rich States, Poor States not only identifies these policies but also makes sound research-based conclusions about which states are poised to achieve greater economic prosperity and those that are stuck on the path to a lackluster economy.

    • Headlines

      Rebounding economy fills state coffers with record tax revenues

      Washington Post - GovBeat | by Reid Wilson | April 10, 2014

      State governments collected more than $846 billion in tax revenue in the last fiscal year, the highest amount ever reported, as a rebounding economy boosted coffers hit hard by the recession.

    • Headlines : Virginia

      McAuliffe quietly amends bills to add budget catch

      The Virginian-Pilot | by Julian Walker | April 8, 2014

      The Democratic governor has quietly amended at least 11 bills - mostly Republican - so they wouldn't take effect until Virginia has a budget, an assertion of authority by McAuliffe.