Virginia ended the 2014 fiscal year with $89 million less than projected last month, which will likely lead to cuts in the newly adopted budget.
Aside from new investments in a handful of programs such as mental health services and domestic violence prevention, the two-year spending plan adopted by the General Assembly and signed by Governor McAuliffe last month was essentially flat over the previous budget.
Now with the final numbers in for the year, the state finished with a total of $1.64 billion less than projected. Republican Delegate Steve Landes of Augusta, the Vice Chairman of the House Appropriations Committee says that cuts may now be necessary to offset the downturn.
Landes believes the state’s revenue reserve built into the budget can avoid any cuts until the 2015 session, but that the legislature may need to scale back the number of judicial appointments it can make before that.