Halfway through the fiscal year, Virginia’s general fund revenues for December 2023 remain in line with updated versions of the state’s official revenue forecast, Gov. Glenn Youngkin announced Monday.
Total general fund revenues grew by 0.2 percent for the month versus the same period last year and are up 7.1 percent year-to-date.
“Through the first half of the fiscal year, our forecast continues to correctly reflect the economic risks and uncertainty on the horizon,” said Youngkin. “As we laid out in our Unleashing Opportunity budget, lowering the cost of living for all Virginians and empowering an economic environment for our companies to compete and win to drive job growth across the commonwealth remains a top priority.”
“Revenue collections are slightly ahead of plan through the first half of the fiscal year,” said Secretary of Finance Stephen Cummings. “December fiscal year-to-date, general fund revenues are ahead of the revised forecast by $363 million, but given broad economic r...