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Virginia vs Connecticut Budget FY2024

Spending, revenue and category allocations compared side by side.

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Key Budget Metrics โ€” Virginia vs Connecticut

Total Expenditure

Virginia

$84.0 billion

Connecticut

$42.8 billion

Virginia is 96.4% higher
General Fund

Virginia

$29.6 billion

Connecticut

$22.8 billion

Virginia is 29.8% higher
Total Revenue

Virginia

โ€”

Connecticut

โ€”

Not comparable
General Fund Revenue

Virginia

$32.6 billion

Connecticut

$22.7 billion

Virginia is 43.4% higher
Rainy Day Fund

Virginia

$4.7 billion

Connecticut

$4.1 billion

Virginia is 14.3% higher
State GDP

Virginia

$798.4 billion

Connecticut

$376.5 billion

Virginia is 112.1% higher

Receipts & Expenditure Comparison

ParticularsVirginiaConnecticutDifference
Total Expenditure (all funds)$84.0 billion$42.8 billion+96.4%
General Fund Expenditure$29.6 billion$22.8 billion+29.8%
Total Revenueโ€”โ€”โ€”
General Fund Revenue$32.6 billion$22.7 billion+43.4%
Rainy Day Fund$4.7 billion$4.1 billion+14.3%
State GDP$798.4 billion$376.5 billion+112.1%

Virginia per resident

$9,458

Connecticut per resident

$11,597

Virginia โ€” Spending Composition

Connecticut โ€” Spending Composition

Category-wise Allocation โ€” Virginia vs Connecticut

CategoryVirginiaConnecticutDifference
1. All Other
$27.5 billion
$16.2 billion
+69.9%
2. Medicaid
$21.6 billion
$10.5 billion
+105.4%
3. K-12 Education
$12.8 billion
$6.5 billion
+97.4%
4. Higher Education
$10.7 billion
$3.8 billion
+180.6%
5. Transportation
$9.7 billion
$4.9 billion
+96.5%
6. Corrections
$1.7 billion
$827 million
+102.2%

Compare Another Fiscal Year

FY2027FY2025FY2024FY2023FY2022FY2021

Understanding This Comparison

State budgets are compared on an all-funds basis โ€” the total across the general fund, federal grants, and dedicated state funds. This is the fairer measure, because states differ widely in how much they route outside the general fund. The general fund row shows the discretionary portion that state legislatures actually debate.

Fiscal years differ between states: most run July to June, Alabama and Michigan run October to September, and New York runs April to March. Figures labelled with the same fiscal year therefore cover slightly different periods.

Definitions for every term used here are in the US budget glossary. To compare across countries, see India budget comparisons.

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