Virginia state employees to receive year-end bonus, source says
RICHMOND, Va. (AP) - Two Virginia government officials say state agencies saved enough money through the first half of 2012 to give state employees year-end bonuses.
Gov. Bob McDonnell will announce operational savings easily exceeding $100 million Wednesday morning to the General Assembly's budget-writing committees.
Officials knowledgeable about the final savings total said the savings significantly eclipsed the $77 million to $80 million needed to provide the one-time 3 percent bonus in December.
The officials spoke to The Associated Press on the condition of anonymity to avoid pre-empting the governor's address and would not provide the exact total of the savings.
A previously announced revenue surplus of $129 million plus the agency savings mean Virginia government will boast an unspent balance for the third year in a row.