Virginia state revenues higher than projected

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RICHMOND, Virginia — Virginia's state revenues are higher than previously projected with March collections up nearly 12 percent higher than a year ago.

Gov. Terry McAuliffe's office released figures Monday showing that total revenue collections are up 7.1 percent so far this fiscal year. That's more than 2 percentage points higher than the growth projected in a budget lawmakers approved in the 2015 legislative session.

McAuliffe said the strong revenues are a sign that Virginia's economy is improving.

The state's Department of Taxation also issued 1.8 percent fewer refunds in March of 2015 compared to a year ago.

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