Virginia Lawmakers Approve State Budget

Richmond, Va. (Newsradiowrva.com) - Richmond City Council approved the fiscal year 2025 budget on Monday night. Leaders say the new budget makes record-breaking investments in K-12 public schools and teacher pay.

The $2.9 billion budget includes a 58% increase in funding for Richmond Public Schools, a 72% increase in the minimum wage for city employees and millions for affordable housing.

The budget, which begins July 1, can be viewed here .

“From historic funding for our schools, children and families, city employees, and affordable housing, the Fiscal Year 2025 budget is about lifting up Richmonders and providing them with the opportunities to succeed,” Mayor Levar Stoney said.

The state’s spending plan includes more than $2 billion in K-12 public education funding and 3% pay raises for teachers and state employees in the next two fiscal years.

Other highlights of the budget include:

• A $17.8 million increase for Richmond Public Schools operating budget
• More than $25 million for RRHA redevelopment projects
•$112 million dedicated to complete streets projects
• $9.1 million to raise pay for our police officers, firefighters, and emergency services employees
• $1.2 million to Parks, Recreation and Community Facilities to continue the activation of Southside, Powhatan, and Randolph community centers

Now that the new budget has been approved, Virginia will avoid a government shutdown that would have stopped vital funding for localities.