February 2018 general fund revenue collections up 10.9 percent

revenuesVirginia state revenues increased 10.9 percent in February, Gov. Ralph Northam announced today. On a fiscal year-to-date basis, total revenue collections rose 6.2 percent, ahead of the annual forecast of 3.4 percent growth.

“I am pleased to see strong revenue numbers for February, indicating that Virginia’s economy remains on a strong path,” said Governor Northam. “While this shows that the Commonwealth continues to move in the right direction, we must also be cautious and mindful of the ongoing biennial budget negotiations and continuing uncertainty coming from Washington that reinforce the need to maintain a conservative approach as we move forward.”

Collections of payroll withholding taxes rose 11.8 percent in February. Collections of sales and use taxes reflecting January sales rose 3.6 percent in February. As the individual income tax filing season enters into full swing, the Department of Taxation issued $442.6 million in individual refunds in February compared with $429.5 million last year.

On a year-to-date basis, collections of payroll withholding taxes – 64 percent of General Fund revenues – increased 5.6 percent, ahead of the annual forecast of 3.5 percent growth. Sales tax collections – 18 percent of General Fund revenues – increased 3.2 percent through February, ahead of the annual forecast calling for a 3.0 percent increase. Total revenues rose 6.2 percent through February, ahead of the annual forecast of 3.4 percent growth.

To view the full report, click here.

uva basketball team of destiny

Team of Destiny: Inside UVA Basketball's improbable run

Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, by Jerry Ratcliffe and Chris Graham, is available for $25.

The book, with additional reporting by Zach Pereles, Scott Ratcliffe and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018, and how coach Tony Bennett and his team used that loss as the source of strength, through to the ACC regular-season championship, the run to the Final Four, and the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.


Augusta Free Press content is available for free, as it has been since 2002, save for a disastrous one-month experiment at putting some content behind a pay wall back in 2009. (We won’t ever try that again. Almost killed us!) That said, it’s free to read, but it still costs us money to produce. The site is updated several times a day, every day, 365 days a year, 366 days on the leap year. (Stuff still happens on Christmas Day, is what we’re saying there.) AFP does well in drawing advertisers, but who couldn’t use an additional source of revenue? From time to time, readers ask us how they can support us, and we usually say, keep reading. Now we’re saying, you can drop us a few bucks, if you’re so inclined.