Faced with a budget shortfall, state legislators are eyeing a very large piggy bank - the unclaimed cash of Virginia residents being held by the Treasury. About $1.7 billion dollars - that’s billion with a B - is awaiting a call from the rightful owners.
Benjamin Jarvela looks nothing like Santa Claus, but he hopes to give Virginians lots of presents this year. As spokesman for the state’s treasury, he says one in four people has a forgotten utility deposit or some other money in Richmond, waiting to be claimed.
Sixteen percent of children in Virginia live in poverty, and one in four families is considered working poor. They’re in contact with teachers and principals, social workers and psychologists, and in some cases, police and judges, but those professionals may not understand what it means to be poor.
Families with two kids who earn less than $24,000 a year fall below the poverty line, and with that comes some unique challenges. Alicia Lenahan is president of Piedmont CASA, a group that advocates for abused and neglected children in court.
There’s good news from the Governor and the heads of the General Assembly’s money committees. Despite dealing earlier with a significant revenue shortfall, the state is now seeing a $338-million revenue bump from withholding through corporate income tax and insurance premiums.
It amounts to $162 million more over the biennium after a $176 million deposit into the Rainy Day Fund. Governor McAuliffe says it provides a little extra money to spend as the budget is crafted.
More Americans than ever are going to college. And more than ever are burdened with high debts and few job prospects.
In the latest installment of his Full Disclosure podcast, Richmond-based business reporter Roben Farzad talked with University of Richmond Business Professor Eric Martin, who says four years of college at the full sticker price is just not for everyone. And Martin points to recent studies claiming that only 37% of new jobs created require a four-year-degree.