Virginia moved almost a half-billion dollars ahead of forecast for government revenues through May, with one month left to ensure it collects enough tax money to pay for state spending obligations in the fiscal year that ends on June 30.
The state is not likely to enter the next fiscal year on July 1 with a big surplus, as it has for the past five years, but collections were $488.3 million ahead of forecast in the first 11 months of the year.
Read the full story in the Richmond Times-Dispatch.
