News & Events

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Upcoming Events

May 16, 2023

Bond Sale

Multiple Series

Virginia College Building Authority Educational Facilities Revenue Bonds (21st Century College and Equipment Programs), Series 2023A ($618,815,000)

Virginia College Building Authority Educational Facilities Revenue Refunding Bonds (21st Century College and Equipment Programs), Series 2023B ($341,810,000)

News & Press Releases

July 21, 2022

Virginia General Fund Finishes the Fiscal Year 2022 with Surplus of Nearly $2 Billion

Governor Glenn Youngkin today announced that Virginia ended the fiscal year 2022 with a $1.94 billion general fund revenue surplus. On a fiscal year-to-date basis, total revenue collections rose 16.3 percent, based on preliminary data.

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December 16, 2020

Governor Northam Presents Amendments to 2020-2022 Budget

Governor Northam presents budget amendments to restore progressive agenda, provide relief to Virginians and bolster economic recovery.

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August 18, 2020

Governor Addresses General Assembly Joint Money Committees on Fiscal Year 2020 Preliminary Results and Proposed Budget Amendments

Governor Northam Proposes Voter Protection Measures Ahead of November General Election.

Additional budget amendments address evictions, broadband, historical sites, and dam safety.

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July 13, 2020

Press Release
Governor Northan Announces Year End Revenue Report

Governor Northan announced that Virginia ended fiscal year 2020 with a deficit of approximately $236.5 million in general fund revenues, significantly below prior estimates of up to $1 billion.

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December 17, 2019

Governor Ralph Northam Presents Historic 2020-2022 Budget

Governor Ralph Northam today presented his budget for Fiscal Years 2020–2022 to the Joint Money Committees of the General Assembly.

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August 20, 2019

Press Release
Governor Addresses General Assembly Joint Money Committees on Fiscal Year 2019 Preliminary Results

Governor Ralph Northam addressed a meeting of the Joint Money Committees of the Virginia General Assembly where he discussed the state of the Commonwealth's finances and the Virginia economy.

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July 10, 2019

Press Release
Virginia Reclaims Top State for Business Title

Virginia reclaimed the "Top State for Business" title in CNBC  Ranking

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Press Release
Governor Northam Statement on S&P Global Ratings' Upgrade of Virginia's Financial Outlook

For Immediate Release: June 8, 2018
Contacts: Office of the Governor: Ofirah Yheskel, Ofirah.Yheskel@governor.virginia.gov

Following budget adoption, agency moves outlook back to stable

RICHMOND—Governor Ralph Northam today issued the following statement regarding S&P Global Ratings’ move to affirm Virginia’s AAA bond rating and upgrade the Commonwealth’s financial outlook to stable. In April 2017, the ratings agency downgraded the Commonwealth’s outlook from stable to negative. The upgrade follows Governor Northam’s adoption of a historic budget that expands Medicaid and allocates more dollars for the state’s primary reserve funds.

“I’m encouraged that the actions we’ve taken to shore up our reserve funds and to finalize a fiscally sound budget have resulted in an upgraded outlook from S&P Global Ratings. This demonstrates the fiscal health of the Commonwealth and affirms the work we have done over the course of the session to ensure our critical AAA bond rating remains intact.

“This is a positive sign for Virginia’s economy and I look forward to continuing to work with the General Assembly to make the Commonwealth work better for every family.”

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