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Saturday, July 13, 2013
Virginia ended the 2013 fiscal year with a $261.9 million revenue surplus, marking the fourth straight year of surpluses and triggering a pay raise for state employees.
Most of the $261.9 million surplus is earmarked, including a payment to the rainy day fund, but Gov. Bob McDonnell said Friday that the preliminary report shows he can green-light a 2 percent pay boost and catch-up adjustments approved in the budget - giving state workers a raise for the first time in six years.
"It's long overdue," said Ron Jordan, executive director of the Virginia Governmental Employees Association. "It's a recognition by the General Assembly that employees have labored hard throughout the recession and without a lot of recognition and that a lot of the credit for the state being the best managed over the many years also belongs to them."
McDonnell said workers will see the increase in their Aug. 16 paycheck.
Most state workers will see a 2 percent pay raise plus "salary compression" adjustments if they have worked for the state continuously for at least five years and have a satisfactory performance evaluation.
The salary adjustment is $65 per year of service up to 30 years for eligible employees, and $70 per year for sworn Virginia State Police employees.
College and university faculty will receive a flat 3 percent salary boost without the salary compression.
The state registered a $228 million surplus in 2010, $311 million in 2011 and $129 million in 2012.
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