Virginia

background Nationwide, public and higher education are still recovering from the Great Recession. Virginia is no exception, but its relative position has improved over the last five years. The July 26, 2017, Bureau of Economic Analysis reported that Virginia’s GDP grew by 2.0%1 -an improvement over last year’s 0.6% growth. Virginia’s 2017 total general fund revenues fell short of projections by $268.9 million (1.5%), and transfers to the general fund fell short by $10.4 million. A modest 3.9% increase in revenue is forecast for FY 2018.2 Virginia passes a biennial budget, and the governor serves a four-year term and may not serve a consecutive term. The current governor proposes a budget that will be amended by the newly elected governor for the FY 2019 budget. Virginia is currently in the FY 2016-18 version with the amended FY 2018 budget. Currently, the House and the Senate are both controlled by Republicans working with a Democratic Governor. A Gubernatorial election will be held in November 2017 with substantial potential impact to education.