- Report Published -
|Review of State Spending: 2012 Update|
|Joint Legislative Audit and Review Commission|
|§ 30-58.3 (A.)|
|This is the 12th in the series of JLARC reports on growth in state spending. This report focuses on trends during the period from FY 2003 through FY 2012.|
In FY 2012, Virginia’s budget totaled $40.4 billion compared to $25.0 billion in FY 2003. When controlling for growth in population and inflation, budget growth was 18% over the ten-year period. This was largely the result of growth in non-general funds, led in part by an infusion of federal stimulus funds in FYs 2010 and 2011.
The ten largest state agencies (of 151 agencies) in terms of both general and non-general fund appropriations accounted for 70% of the entire state budget in FY 2012. The four largest agencies—the Department of Medical Assistance Services (DMAS), the Department of Education-Direct Aid (DOE-Direct Aid), the Virginia Department of Transportation, and the University of Virginia—accounted for more than half of the budget in both 2003 and 2012.
Growth in general fund appropriations is concentrated in a few large agencies. DMAS and DOE-Direct Aid accounted for 60% of this growth. The general fund appropriation of 13 agencies declined and that of another 41 agencies grew slower than inflation. For non-general fund appropriations, three of the ten fastest growing agencies were in higher education: the Virginia College Savings Plan, Virginia Community College System, and George Mason University.