Tags: virginia | worker | pay | bonus

Va.’s $129 Million Surplus May Fund Worker Pay Bonus

Tuesday, 31 Jul 2012 10:13 AM

By Greg McDonald

Virginia has put up more than $129 million in surplus revenue, some of which Gov. Bob McDonnell says could help fund a one-time, three percent bonus for state employees.

According to the Richmond Times-Dispatch, some $78.6 million of the surplus from the fiscal year that ended June 30 will be placed in the state’s rainy day fund and at least r $12 million will go to a water quality fund.

But the remainder apparently will be used to help fund the bonus, depending on whether additional estimated savings from various government agencies turn out as expected and get added to the revenue surplus. In all, about $80 million will be required to turn the bonus into reality for state workers, the Times-Dispatch reported.

“We’re optimistic that just some of the numbers that we’ve seen would indicate that we’re going to have some… fairly good savings, but it’s just too early because the books haven’t closed yet,” McDonnell said Monday.

“I don’t know yet what that number’s going to be,” the Republican added. “But we’re optimistic that we’ll have enough to pay for that . . . bonus.”

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

The 2016 'Book Race': GOP Candidates Like Ben Carson, Huckabee Sell Like Hotcakes

Friday, 30 Jan 2015 20:50 PM

If potential Republican presidential candidates' recent book sales are a strong indication of their electability, then B . . .

Smoke on Boston Train Scares Passengers Who Bust Out Windows to Escape

Friday, 30 Jan 2015 19:37 PM

A commute on Boston's Red Line Thursday morning turned into chaos as smoke filled the train and passengers broke out win . . .

Seth Jackson Sentence: Foster Dad Gets 32 Months in Hot Car Death

Friday, 30 Jan 2015 18:50 PM

Kansas foster dad Seth Jackson was sentenced to 32 months in prison Friday for the July death of a 10-month-old girl who . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved