By Steve Haner,
There was an important story in the preliminary end-of-year financial report that the Richmond Times-Dispatch misinterpreted as the state โrunning in the red.โย ย State spending has been on a major growth spurt under Republican Governor Glenn Youngkin, although the Democrats with the majority in the General Assembly have just as much to do with it.

The data from the state comptroller, which will reappear later this year after the stateโs books are audited, shows that general fund tax revenue grew 25% during the four years it covers in one of its tables (page 3), fiscal years 2021-2025.ย During that same period, the spending in that general fund category grew 47% (from $23.1 billion to $34 billion.)
The report uses only a few broad categories for spending. ย Again, this is general fund only so all the various federal programs or dedicated non-general fund revenue for the same services are not included.ย Spending on individual and family services was $10.7 billion in the year ending June 30, 2025, and that was 52% higher than four years ago.ย That is steady growth of far more than 10% annually, with Medicaid likely leading the charge.
Spending on education, which always gets the most political focus, was the largest category by far.ย The $14.9 billion spent during FY 2025 was an increase of 50% since 2021.ย Presumably this covers the waterfront from pre-K through higher education.ย Higher education is much more dependent on non-general fund revenue (think tuition and fees), but does share in the general fund, too.ย
















