Agency Information

The Department of Accounts (DOA) operates the state’s centralized automated accounting, payroll and fixed assets systems, and prepares the Commonwealth’s official financial statements. It ensures that all funds for state agencies and institutions are accounted for and spent according to state and federal laws and accepted accounting principles.

The Department of Planning and Budget (DPB) develops and administers the state budget, which allocates money for state agencies and institutions. The agency also conducts policy analyses and evaluations of state programs and services and oversees the Commonwealth’s strategic planning and performance measurement efforts. In addition, the Department analyzes proposed state legislation, reviews regulations for need and clarity, and prepares economic impact statements on regulations.

The Deparment of Taxation collects taxes, deposits taxes with the state treasury, and administers the tax laws for individuals and corporations.

The Department of the Treasury manages cash in the state treasury and makes payments based on authorizations from the Comptroller; it also issues and manages the state’s debt.

The Unclaimed Property Division is responsible for returning money, stocks, bonds, dividends, utility deposits, insurance proceeds and tangible property to the rightful owners. 

The Virginia Resources Authority infrastructure financing for local governments in the areas of water, wastewater, stormwater drainage, solid waste, brownfield remediation, public safety and airports.

Recent News

Newsroom
Governor Northam Reminds Virginia Taxpayers of July 1 Filing Deadline for Virginia Individual Income Taxes
Governor Ralph Northam and the Virginia Department of Taxation are reminding Virginians who have not yet filed their Virginia individual income taxes to take action now. Taxpayers must file by midnight on Monday, July 1, 2019 to qualify for the Tax Relief Refund. The refund is the result of state legislation passed by the 2019 Virginia General Assembly in response to the federal Tax Cuts and Jobs Act. An individual filer could receive up to $110 and a married couple filing a joint return could receive up to $220. The refund is not to exceed the taxpayer’s liability, and the law requires the checks to be mailed out by October 15, 2019.
May 2019 General Fund Revenue Collections Up 22.5% From Previous Year and Fiscal Year-To-Date Collections Up 7.9%
Governor Ralph Northam today announced that May revenue collections increased 22.5 percent from a year ago. On a fiscal year-to-date basis, total revenue collections rose 7.9 percent, ahead of the annual forecast of 3.3 percent growth. Approximately $450 million of the additional revenue is needed to fund the Taxpayer Relief Fund.
April 2019 General Fund Revenue Collections Up 27.4% From Previous Year and Fiscal Year-To-Date Collections Up 6.2%
Governor Ralph Northam today announced that April revenue collections grew 27.4 percent. On a fiscal year-to-date basis, total revenue collections rose 6.2 percent, ahead of the annual forecast of 5.9 percent growth.
Governor Northam Announces Final Action and Signature of Budget
Governor Ralph Northam today announced his final action and signature of House Bill 1700. In a letter to the General Assembly, Governor Northam details his veto of language constraining the funding for a pilot program to distribute long-acting reversible contraceptives (LARCs) to low-income women across the Commonwealth.
Governor Northam Celebrates Significant Milestone for Economic Development in Virginia
Governor Ralph Northam today announced that Virginia has secured over $15.8 billion of capital investment since he took office on January 13, 2018. The capital investment represents over 300 economic development projects in every region of the Commonwealth and has led to the creation of more than 48,000 jobs. Over $2 billion of this investment and more than 7,500 new jobs are in distressed communities, in which the unemployment or poverty rates are above the statewide average.
March 2019 General Fund Revenue Collections Down 1.4% From Previous Year, But Fiscal-Year-To-Date Collections Up 3.0%
Governor Northam today announced that, although March is not a significant month for collections, revenue decreased 1.4 percent as payroll withholding had one less deposit day than a year ago. After revenues increased by 26.6 percent in February due to the delayed tax filing season, lower revenues were expected in March. On a fiscal year-to-date basis, total revenue collections rose 3.0 percent, behind the annual forecast of 5.9 percent growth. Although collections are lagging the annual estimate, growth is expected to be higher in the final quarter of the fiscal year due to effects of the federal Tax Cuts and Jobs Act.
February 2019 General Fund Revenue Collections Up 26.6% From Previous Year and Fiscal-Year-To-Date Collections Up 3.5%
Governor Northam today announced that total general fund revenues grew 26.6 percent in February, mainly due to a delay in the start of the individual income tax processing season, which resulted in fewer refunds being issued. In addition, the major revenue sources performed at or better than expectations for the month. On a fiscal year-to-date basis, total revenue collections rose 3.5 percent, behind the annual forecast of 5.9 percent growth. Although collections are lagging the annual estimate, growth is expected to be higher for the remainder of the fiscal year due to effects of the federal Tax Cuts and Jobs Act.
Governor Northam Praises Virginia Tax Department’s Work Through Backlog of Over One Million Individual Income Tax Returns
Governor Ralph Northam today praised the Virginia Department of Taxation for its completion of the backlog of individual income tax returns they accepted but did not process while awaiting action from the General Assembly.
Governor Northam Signs Tax Conformity Legislation
Today, Governor Ralph Northam signed legislation that conforms Virginia’s tax laws to the federal Tax Cuts and Jobs Act and lets the Virginia Department of Taxation begin processing individual income tax returns.
Governor Northam’s Letter to General Assembly Budget Conferees
Today, Governor Ralph Northam sent the following letter to General Assembly Budget conferees outlining his views with respect to ongoing negotiations on the state budget.
January 2019 General Fund Revenue Collections Up 0.4% From Previous Year and Fiscal-Year-To-Date Collections Up 1.3%
Governor Northam today announced that January General Fund revenues rose 0.4 percent from the previous January. Although collections are lagging the annual estimate, growth is expected to be higher in the second half of the fiscal year due to effects of the federal Tax Cuts and Jobs Act on the timing of payments for individual and corporate income taxes.
Governor Northam Urges End to Shutdown, Backs Legislation Making Furloughed Essential Federal Workers Eligible for Unemployment Insurance Benefits
In a letter to President Donald Trump and Congressional leadership, Governor Ralph Northam today urged an end to the longest shutdown in American history and backed legislation introduced by Representative Anthony Brown of Maryland, which would overturn a U.S. Department of Labor regulation prohibiting federal essential workers who are furloughed from receiving unemployment insurance benefits. The legislation is co-sponsored by Virginia Representatives Don Beyer, Elaine Luria, and Jennifer Wexton.
Governor Northam Pursues Answers from Trump Administration on Unemployment Insurance for Unpaid, Essential Federal Workers
Governor Ralph Northam today sought clarity from U.S. Secretary of Labor Alexander Acosta on Department guidance that furloughed federal workers who are performing essential services without pay are not considered “unemployed” under state regulations. Under this guidance, they are therefore ineligible to receive unemployment insurance benefits during the longest government shutdown in American history. If Congressional leaders and President Trump do not reach an agreement to end the shutdown by Friday, furloughed federal workers will miss a second paycheck.
December 2018 General Fund Revenue Collections Down 5.7% From Previous Year and Fiscal-Year-To-Date Collections Up 1.5%
Governor Northam announced today that December General Fund revenue decreased 5.7 percent from the previous year, mainly due to a significant drop in individual estimated payments received ahead of the January 15th due date. Sources most closely tied to economic activity—payroll withholding and sales tax collections—posted strong growth. On a fiscal year-to-date basis, total revenue collections rose 1.5 percent through December, trailing the revised annual forecast of 5.9 percent growth.
Governor Northam Launches Application for Second Cohort of Virginia Management Fellows
Governor Ralph Northam today announced the application launch for the second Virginia Management Fellows (VMF) cohort. The program is an initiative of the Commonwealth of Virginia developed in partnership with Virginia Tech to meet the state’s needs for future leaders. Recent (or May 2019) undergraduate, Master’s, or Ph.D. graduates who are dedicated to serving the citizens of Virginia are eligible to apply.
October 2018 General Fund Revenue Collections Up 10.2% From Previous Year and Fiscal-Year-To-Date Collections Up 4.5%
Governor Northam announced today that October general fund revenues rose 10.2 percent in October, driven mainly by solid gains in payroll withholding and individual estimated payments. Regular monthly collections are due in withholding, sales taxes and most minor sources. On a fiscal year-to-date basis, total revenue collections rose 4.5 percent, ahead of the annual forecast of a 1.5 percent increase.
Governor Northam Announces Amazon Selects Virginia for Major New Corporate Headquarters
Governor Ralph Northam today announced that Amazon, Inc. will invest approximately $2.5 billion to establish a major new headquarters in Virginia that will create more than 25,000 high-paying jobs over 12 years. The headquarters will be housed in a collection of new and renovated buildings located in National Landing, which includes portions of Pentagon City and Crystal City in Arlington County, Virginia and Potomac Yard in the City of Alexandria, Virginia. Amazon’s initial growth is expected to be focused in the Crystal City and Pentagon City portions of National Landing.
September 2018 General Fund Revenue Collections Up 4.0% From Previous Year and Fiscal-Year-To-Date Collections Up 2.7%
Governor Northam announced today that September General Fund revenue increased 4.0 percent from the previous year—largely due to payroll withholding taxes, nonwithholding, and sales tax collections. The Governor also stated that September completes the first quarter of fiscal year 2019 and is a significant month for revenue collections. Estimated payments from individuals, corporations, and insurance companies are all due in September, along with regular monthly collections in withholding, sales taxes, and other sources.
Governor Northam Signs Executive Order Establishing Conservation Cabinet
Governor Ralph Northam today issued Executive Order Twenty Two, establishing the Governor’s Conservation Cabinet, a new initiative to better protect Virginia’s vulnerable natural resources and improve environmental quality across the Commonwealth.
August 2018 General Fund Revenue Collections Up 4.5% From Previous Year
Governor Northam announced today that August General Fund revenue of $1.446 billion increased 4.5 percent from the previous year. August is not a significant month for revenue collections.
Governor Northam Announces Record Year in Unclaimed Property Paid Out to Virginians
Governor Ralph Northam today announced that the Virginia Department of the Treasury’s Unclaimed Property Program returned a record $79 million in property to owners during the 2018 fiscal year, $16.6 million more than the previous highest return in 2015. Over 139,000 asset accounts were paid out during the 2018 fiscal year, representing a 77% increase over the previous fiscal year.
Virginia General Ends Fiscal Year 2018 with $551.9 Million Surplus as General Fund Revenue Collections Increase 6.3%
Governor Ralph Northam announced today that Commonwealth of Virginia reached the end of fiscal year 2018 with a revenue surplus of approximately $551.9 million.
May 2018 General Fund Revenue Collections Up 1.4% From the Previous Year and Fiscal-Year-To-Date Collections Up 6.1%
Governor Northam announced today that May revenue collections increased 1.4 percent from a year ago. On a fiscal year-to-date basis, total revenue collections rose 6.1 percent, ahead of the annual forecast of 3.4 percent growth.
Governor Northam Statement on S&P Global Ratings’ Upgrade of Virginia’s Financial Outlook
Governor Ralph Northam today issued the following statement regarding S&P Global Ratings’ move to affirm Virginia’s AAA bond rating and upgrade the Commonwealth’s financial outlook to stable.
Governor Ralph Northam Signs 2018–2020 Biennial Budget
Governor Ralph Northam today signed two bills that fund state government for the remainder of Fiscal Year 2018 and all of Fiscal Years 2019 and 2020. The budget Governor Northam signed increases health care access for up to 400,000 Virginians by expanding Medicaid and makes significant investments in core economic priorities like education, workforce training, mental health services, and pay raises for teachers as well as state and state-supported local employees, including law enforcement professionals.
Governor Northam Statement on Biennial Budget that Expands Health Care and Invests in a Stronger Economy
Governor Ralph Northam today issued the following statement on the General Assembly’s passage of a budget that includes Medicaid expansion, which will increase healthcare access for up to 400,000 Virginians.
Governor Northam Statement on Virginia Senate’s Budget Passage
Governor Ralph Northam today issued the following statement on the Virginia Senate’s passage of a budget that includes Medicaid expansion.
Governor Northam Statement on Virginia Senate Budget Process
Governor Ralph Northam released the following statement today on the ongoing discussions in the Senate of Virginia about the state budget.
April 2018 General Fund Revenue Collections Up 17.8% From the Previous Year and Fiscal-Year-To-Date Collections are Up 6.7%
Governor Northam announced today that April revenue collections grew 17.8 percent. On a fiscal year-to-date basis, total revenue collections rose 6.7 percent, ahead of the annual forecast of 3.4 percent growth.
Governor Northam Announces Administration Appointments
Governor Ralph Northam announced additional appointments to his Administration today.
Governor Northam Designates May 6 – 12 as Virginia Public Service Week
Governor Ralph Northam has proclaimed the week of May 6 – 12, 2018 as Public Service Week in Virginia to celebrate the commitment and dedication of 713,000 individuals who serve the Commonwealth in federal, state and local jobs.
Governor Northam Announces Arconic to Relocate Global Headquarters to Fairfax County
Governor Ralph Northam today announced that Arconic Inc. (NYSE: ARNC), a global technology, engineering and advanced manufacturing leader, will relocate its global headquarters from New York City to Fairfax County.
March 2018 General Fund Revenue Collections Are Down 3.5% From the Previous Year and Fiscal-Year-To-Date Collections are Up 5.2%
Governor Northam announced today that, although March is not a significant month for collections, revenue decreased 3.5 percent as payroll withholding had one less deposit day than a year ago.
Governor Northam Introduces New Biennial Budget for April 11th Special Session
Governor Ralph Northam today unveiled the budget that he will be proposing to the Virginia General Assembly as they prepare to return to Richmond on April 11th to finish their work on the Commonwealth’s biennial spending plan.
Governor Northam Announces Administration Appointments
Governor Ralph Northam announced additional appointments to his Administration today.
Governor Northam Announces January 2018 General Fund Revenue Collections Up 5.1% From The Previous Year And Fiscal-Year-To-Date Collections Up 5.8%
Governor Northam announced today that January General Fund revenues rose 5.1 percent from the previous January – largely due to payroll withholding.
Governor-Elect Ralph Northam Announces Administration Appointments
Governor-elect Ralph Northam today announced key appointments for senior leadership positions within his administration.