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

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.”