Deltek Analyst Kate Tussey reports.
Virginia Governor Bob McDonnell delivered the State of the Commonwealth address on Jan. 11 in Richmond, Va. During the speech, the governor outlined core budget objectives as the state enters a “period where uncertainty and unpredictability are the new norm.” The governor’s priorities include:
- Prioritize spending on ideas and policies that promote job creation, economic development, and entrepreneurship.
- Reform, reallocate, and reinvest in the programs that make government more efficient, effective, and accountable.
- Fund key budget areas that lay the foundation for the future of Virginians, including education and transportation.
- Solve big problems (i.e. the pension system, the underfunded transportation maintenance system, and higher education system).
- Build up cash reserves and liquidity as insurance to provide the flexibility to address the potential impacts of adverse future economic events.
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