Revisiting the state budget
Published 8:56 am Wednesday, August 31, 2016
The media have reported the disappointing news that there was a budget shortfall in the annual budget that ended the state’s year on June 30. This was particularly disappointing for state employees and teachers who were expecting a raise this fall. Those raises were contingent on the state budget meeting expectations. Since they were not met, the raises will have to be delayed.
Slight misunderstandings of income expectations and the public’s spending can have significant effect on the budget.
Back in January and February, as the Virginia General Assembly evaluated the governor’s projections, we were less confident of the strength of the economy. For that reason, as we modified his budget, we did several things to prepare for the possibility that those revenues were not going to reach the governor’s estimates. Had we not made those changes, the budget would have been one billion dollars more off the mark.
Frank Ruff, a Republican, represents Charlotte in the Virginia Senate. His email address is Sen.Ruff@verizon.net.