The Prince William County Revenue Stabilization Fund is a separate fund modeled in part on the state Revenue Stabilization Fund that was created back in 1990. The state fund was created as a result of a nearly 2 billion dollar shortfall that occurred because of an economic downfall. Determined to be more prepared in the future, the State of Virginia created the Revenue Stabilization Fund also known as the Virginia Rainy Day fund. It may be researched at this state website.
The state fund holds an amount equal to about 10% of its annual budget in this fund.
Prince William County is known statewide for its economic responsibility. It falls into a unique category of jurisdictions in that it has a AAA bond rating, which is very difficult to achieve. Only 0 .4% of all jurisdictions have earned this distinction.
What is the RSF? The RSF is money intended to stabilize revenue collections. It isn’t for funding Blue Bird Bus Tours or to put in libraries, bike paths or ball fields. It is to cover the unexpected financial contingencies that occur such as housing market fluctuations which greatly impact PWC revenue collection since the great majority of taxes collected are residential based.Read More
