VA. ends the fiscal year with historic surplus

emergency funding for homeless

The state of Virginia reached the end of the fiscal year 2021 with a historic $2.6 billion surplus.

That is the largest surplus in the Commonwealth’s history.

All major general fund revenue sources exceeded their forecasts for the fiscal year.

The Secretary of Finance Joe Flores said they expected a strong performance and this surplus is stronger than initially anticipated.

Showing that Virginia’s underlying economic foundation is strong.

The state will release final figures for the fiscal year on Aug. 18.

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