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.