So, I’m reading our paper this morning and I notice an article about a meeting with our Transportation Secretary, Mr. Connaughton. You’ll remember him, Chair of the PWC BOC’s for awhile and then off to work for the Feds for awhile and now down to Richmond. Dude gets around! Good for him, hope he enjoys it!
I noticed this passage in particular: “The former Prince William Board of County Supervisors chairman told a Prince William Chamber of Commerce lunch crowd at Old Hickory Golf Club on Wednesday that the state’s main goal is to plug a $400 to $500 million hole each year that could be devoted to capital projects but instead is funneled to pay for road upkeep.”
Uh-Oh. One possible interpretation of that is that the state is preparing to shift more costs to the localities. I’ve heard rumbings from VML that this was under active consideration. Let’s hope not! It would force a big tax increase on the local level….
August 18, 2011 at 11:53 pm
The Governor announced today that for the second year, Virginia has had a budget surplus. $544.8 Million for FY2011. Of that, $93.2 Million goes to the Transportation Trust Fund, and $30Million to a “Federal Action Contingency Trust (FACT) Fund to prepare for “likely future Federal spending reductions”.
I chuckle at the acronymn, and at least give credit for creating a fund that will get chewed through fast. But your right about a shift in transportation (among others coming) to local government. Federal share for infrastructure is not going to be there, and the State will have to pump dollars for projects elsewhere.
August 19, 2011 at 5:36 am
Good, then he an some of the remaining $421 million and give it to the localities to cover the costs of LODA that were unceremoniously dumped on them when there were budget worries. As for the Dark Lord Sean, keep him as far away from PWC as possible, my wallet goes into hiding when he’s around.
August 19, 2011 at 5:38 am
Sorry, not enough coffee:
Good, then he can take some of the remaining $421 million and give it to the localities to cover the costs of LODA that were unceremoniously dumped on them when there were budget worries. As for the Dark Lord Sean, keep him as far away from PWC as possible, my wallet goes into hiding when he’s around.
August 21, 2011 at 4:21 pm
Now add in another log coming down the pike: Virginia having to borrow more to cover unemployment. Needless to say, I see more shifting of other State Funding to repay the other loan debt, and now the new one for unemployment.
http://www.washingtontimes.com/news/2011/aug/19/virginia-faces-more-borrowing-cover-unemployment-t/