Delegate Matt Fariss

The Commonwealth of Virginia ended the fiscal year with a $797.7 million revenue surplus, according to final figures provided at the Aug. 20 joint meeting of the General Assembly’s money committees.

Virginia will have over $1.6 billion, or approximately seven percent of general fund revenue, in its reserve funds at the end of the biennium.

The surplus will allow Virginia to set aside $431 million in our state reserve funds to fund rebate checks.

This surplus means that Virginia taxpayers will either get a $110 (single) or $220 (married) rebate check as planned.

Rebate checks are scheduled to be sent between Sept. 15 and Oct. 15.

There’s more to this story in the current issue of the Times Virginian newspaper. Pick up a copy or subscribe at www.timesvirginian.com/subscriber_services to view the full article in the e-edition version.