Category: Government Finance
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The Business and Politics of Senior Care in Virginia
by James C. Sherlock We write here often about senior care, the companies that provide it and the politics around that business. It is useful to understand the continuum of care to make sure we also understand the different financial situations which companies in different parts of that industry find themselves and the way they…
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Do Something “Transformational” with $6.8 Billion in COVID Relief
by James A. Bacon The $1.9 trillion COVID-relief bill just passed by Congress will shower billions of dollars upon Virginia citizens, businesses and government. State Secretary of Finance Aubrey Layne expects Virginia state government to receive about $3.8 billion and local governments to get about $3 billion, for a total of $6.8 billion. The crazy…
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Virginians’ Money and Our Tax-Exempt “Public Charity” Healthcare Monopolies
by James C. Sherlock A generally accepted rule of thumb for the minimum profitability required for a hospital to maintain operations and fund its future is 3%. Virginia’s community hospitals as a group in 2019 had an operating margin of 10%. Most of them are filed with federal and state governments as not-for-profit public charities…
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We Pay For All the COVID Funerals, Too?
by Steve Haner Per the Centers for Disease Control’s tracking, more than 4 million death certificates have been recorded in the U.S. during the COVID-19 pandemic. Only 520,000 of them (those recorded so far) listed COVID as primary or contributing cause of death. The survivors of those individuals are eligible for 100% compensation for funeral…
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Podcast: How the General Assembly Has Changed
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in Agriculture & forestry, Blogs and Blog Administration, Business and Economy, Civil Rights, Individual Liberties, Consumer Protection, Courts and law, Demographics, Economic development, Energy, Entrepreneurs and Innovation, Environment, General Assembly, Government Finance, Health Care, Housing, Immigration, Infrastructure, Labor and Workforce, Land use & Development, Politics, Poverty & income gap, Property rights, Public safety & health, Race and Race RelationsBy Peter Galuszka I haven’t contributed much to BR lately since I am slammed with non-Virginia work. I did manage to help out on a Podcast about how the General Assembly has changed the state over the last two years as Democrats have gained power. This Podcast is produced by WTJU, the University of Virginia…
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Analysis of State Use of Federal COVID Funds
By Dick Hall-Sizemore (Note: All of the data presented in this post is based on the author’s analysis of raw expenditure data from the state’s accounting system (CARDINAL) for FY 2020 and FY 2021 through 2/22/2021.) As of February 22, state agencies had spent or disbursed $11.9 billion in federal COVID funds. Two major categories…
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You Thought Payday Lenders Were Bad? Welcome to Internet Lending.
by James A. Bacon A new law that went into effect this year is designed to protect Virginians against “predatory” short-term loans by limiting what lenders can charge. And in honor of National Consumer Protection Week, Attorney General Mark R. Herring is encouraging Virginians to familiarize themselves with the risks associated with smaller-dollar loans. I’m…
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Virginia’s Progressive Assembly Turns to Taxes
by Steve Haner First published this morning by the Thomas Jefferson Institute for Public Policy. The COVID-19 recession barely dented Virginia’s state budget. The massive spending growth adopted in the pre-COVID budget a year ago is largely back on track. Yet some legislators think the time is ripe to hunt for more revenue by re-writing…
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Equity in Virginia School Funding
by Matt Hurt Virginia Public School Region VII has demonstrated that large per-student budgets are not a prerequisite to ensure success on Virginia’s Standards of Learning assessments. High pass rates indicate that the schools and divisions in the Southwest are meeting the needs of their students for basic skill attainment. However, to achieve Virginia’s 5…
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Help for Small Businesses–One State Use of CARES Funding
By Dick Hall-Sizemore I owe the Dept. of Small Business and Supply Diversity (DSBSD) an apology. In an earlier post, I questioned whether the agency would be able to quickly distribute $120 million in grant funds. It turns out that its first checks went out in mid-August and it had to stop accepting applications on…
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Demanding Openness about UVa’s Cost Structure
by James A. Bacon Last week the University of Virginia Board of Visitors held a workshop to discuss next year’s increase in tuition, fees, and other charges and to hear input from the public — mostly students begging the board for relief from the ever-escalating cost of attendance. A PowerPoint presentation released at the meeting…
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More Money, Same Level of Service
By Dick Hall-Sizemore There are often cries of anguish or outrage on this blog and elsewhere over the increases in spending proposed in budget proposals and then authorized by the General Assembly. Some of this criticism of increased spending is justified, but, sometimes, the increase is the result of circumstances beyond an agency’s control. Sometimes,…
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What Texas’s Crisis Means for Virginia
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in Blogs and Blog Administration, Business and Economy, Consumer Protection, Corruption and Scandals, Culture wars, Disasters and Disaster Preparedness, Economic development, Energy, Environment, Government Finance, Insurance, Labor and Workforce, Land use & Development, Money in politics, Political Influence, Politics, Property rights, Public safety & health, Regulations, Gov’t Oversight, Science & Technologyby Peter Galuszka The Texas freeze and ensuing energy disaster has clear lessons for Virginia as it sorts out its energy future. Yet much of the media coverage in Virginia and certainly on Bacon’s Rebellion conveniently leaves out pertinent observations. The statewide freeze in Texas completely fouled up the entire energy infrastructure as natural gas…
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Updates: PPP, PIPP, Dominion’s School Buses
by Steve Haner Tax on Paycheck Protection Program Grants The General Assembly session deadlines require final decisions on various revenue bills before the final budget bill is adopted, in theory keeping the two issues separate. What is good tax policy should not be driven by the need or greed of the appropriators.
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A Really Sweet Valentine
By Dick Hall-Sizemore Governor Northam recently gave the budget conferees a $730 million Valentine. Based on January’s revenue report and year-to-date collections, the Governor has revised the general fund forecast to include an additional $410 million in FY 2021 and $320 million in FY 2022. The main factor leading to the increase was the unanticipated…