The 2011 Executive Budget Document
Treasury Board [ http://www.trs.virginia.gov/Debt/Tboard.aspx ]Mission Statement
To provide sufficient appropriations for the payment of outstanding and future debt obligations of the Commonwealth. (While the Treasury Board is tasked by statute with many duties, the Treasury Board budget is limited to amounts required to pay principal and interest on tax-supported debt obligations of the Commonwealth.)Operating Budget Summary
|General Fund||Nongeneral Fund||Personnel Cost|
|2007 Appropriation||$ 347,676,692||$ 9,269,878||$ 2,300|
|2008 Appropriation||$ 405,205,576||$ 11,268,364||$ 2,300|
|2009 Appropriation||$ 451,967,447||$ 11,266,481||$ 2,300|
|2010 Appropriation||$ 479,381,893||$ 21,260,287||$ 2,300|
|2011 Base Budget||$ 553,996,931||$ 28,477,248||$ 0|
|2011 Addenda||$ (11,593,216)||$ 0||$ 0|
|2011 Total||$ 542,403,715||$ 28,477,248||$ 0|
|2012 Base Budget||$ 593,568,951||$ 28,476,380||$ 0|
|2012 Addenda||$ (9,714,386)||$ 21,102,034||$ 0|
|2012 Total||$ 583,854,565||$ 49,578,414||$ 0|
|General Fund||Nongeneral Fund||Total Positions|
|2011 Base Budget||0.00||0.00||0.00|
|2012 Base Budget||0.00||0.00||0.00|
Recommended Operating Budget Addenda
Adjust funding for debt service paymentsCaptures savings realized from the issuance of recent Virginia Collage Building Authority and Virginia Public Building Authority bonds: at lower interest rates than anticipated; as Build America Bonds resulting in more favorable rates; and, at later issuance dates than originally planned.
FY 2011 FY 2012 General Fund $ (11,593,216) $ (12,886,991)
Amend language pertaining to review of jail projectsReturns responsibility for reviewing and approving expenditures submitted by the locality for reimbursement for the costs of jail construction or renovation projects funded through the issuance of Virginia Public Building Authority Bonds to the Department of Corrections. Currently, this responsibility rests with the Board of Corrections.
Appropriate subsidy for Build America BondsEstablishes a nongeneral fund appropriation to cover the portion of the debt service payments related to three bond issues that were sold as American Recovery and Reinvestment Act (ARRA) Build American Bonds. A portion of the debt service on these bonds will be funded from subsidy payments from the federal government.
FY 2011 FY 2012 Nongeneral Fund $ 0 $ 21,102,034
Provide debt service for new and currently authorized projectsIncreases funding for debt service on bonds to be issued by the Virginia Public Building Authority and the Virginia College Building Authority for new capital projects and existing capital projects and higher education equipment authorized for bond financing. Also, adds the Eastern Shore Regional Jail to the list of projects approved for reimbursement for the state share of the capital cost for the project and appropriates debt service for those costs.
FY 2011 FY 2012 General Fund $ 0 $ 3,172,605