Va. Ends Fiscal Year With Nearly $405M Surplus - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

RICHMOND, Va. (AP)- Gov. Bob McDonnell says that Virginia state government ended its fiscal year in June with a nearly $450 million surplus.

That includes savings from state operations totaling $187 million as of June 30.

The administration had already announced a revenue surplus of $129 million.

Savings were bolstered by an unusually large amount of general fund appropriations from state-supported colleges and universities. Seventy percent of the total savings came from higher education.