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State “Rainy Day” Fund To Reach Almost $1 Billion

State “Rainy Day” Fund To Reach Almost $1 Billion

The state will be able to beef up its “rainy day” cash reserve fund to almost $1 billion.
Making the final tour of his soon-to-end term, McDonnell told reporters that unspent state appropriations combined with the revenue surplus would allow the state to make a deposit into the fund. He will announce details of the surplus next week when he addresses the General Assembly’s budget-writing committees. McDonnell is on a seven-day, 22-city tour of the state.