Kaine: Va. revenues for April below estimates - NBC12 - WWBT - Richmond, VA News On Your Side

Kaine: Va. revenues for April below estimates

By BOB LEWIS
AP Political Writer

RICHMOND, Va. (AP) - Gov. Tim Kaine is putting state agencies on a diet once again, with state revenues for April falling below even reduced estimates.

Kaine said Monday that state general fund receipts could be about $150 million below the state's current target.

The governor told legislative leaders last week that revenue collections for the year will be almost 8.5 percent to 8.8 percent below their 2008 levels.

Spending in the state budget is based on revenues declining by only 7.3 percent below their levels last year.

Kaine said he told state agency directors to look for opportunities to cut their spending, but did not tell them how much to cut.

(Copyright 2009 by The Associated Press.  All Rights Reserved.)

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