Seven states have NO shortfall in general funds. Forty Three states have shortfalls. Virginia is one of them. Governors from 39 other states did a better job (assuming governors present budget figures to legislatures) than Virginia.
Will this affect our status as a well managed state?
Considering all 50 states, Virginia ranked number 40 out of 50 in the percent of shortfall of general revenue funds.
Getting 20% on a class accounting test is not a passing grade.
Thirty-nine (39) states had either NO general revenue shortfall or a smaller percent of shortfalls of their general revenue funds than Virginia. In other words, Virginia lagged behind 79% of the states in accuracy of budget predictors for calculating shortfalls.
Our status could fall even further as Utah and Tennessee have only slightly greater percent in general revenue shortfalls.
You may access and download a PDF of the survey results at:
Courtesy: Del. Bob Marshall and Center on Budget and Policy Priorities