
By Dick Hall-Sizemore
Governor Northam recently gave the budget conferees a $730 million Valentine.
Based on Januaryโs revenue report and year-to-date collections, the Governor has revised the general fund forecast to include an additional $410 million in FY 2021 and $320 million in FY 2022.
The main factor leading to the increase was the unanticipated growth in sales tax revenues. Overall, the General Fund revenues through January grew by 6.0% over the same period a year ago. By comparison, the current budget is based on an estimated annual General Fund revenue growth of 1.2%.ย The Governorโs letter to the money committees is here; a Power Point summation of the forecast increase is here; and the detailed January revenue report is here. (more…)















