June 15, 2020
Secretary Layne, briefed the House Appropriations Committee this morning on the current status and the outlook for Virginia’s economy and revenue in the next few months.
Here are some highlights:
- GF revenues decreased 20.6% in May (certainly not good, but well within the earlier projection of 26%)
- Total revenue is down 1.2% for the year (FY20 compared to FY19); total revenues were expected to grow 3.1%. The projection is the basis for the budget actions so the drop of more than 4% is a significant one.
- While withholding and income taxes are a significant part of the state GF revenue, sales taxes make up a larger portion of the local revenue. With so many retail outlets closed – local revenue is taking a heavy hit.
- The forecasting schedule has been announced; it looks like the Special Session may be able to occur in late August.
- Secretary Layne concluded that it looks like we will not need to project how long we will be at the bottom, but rather we will need to project how long it will take to recover.
We have updated the document on Support for Individuals with Developmental Disabilities during a Hospital Stay
based on a couple of additional comments from VBPD and The Arc of VA. It is available with other suggested protocols here.
Watch for more detail on the VNPP strategy for coping with DBHDS’ approach to meeting the DOJ requirements later this week.