W.Va. State Budget Weakened in February
CHARLESTON, W.Va. (AP) -- State officials say West Virginia's budget picture weakened by more than $31 million in February.
General revenue taxes came in below forecast by that amount, instead totaling $198.7 million. But collections so far the budget year remain ahead by $24 million.
Two key revenue sources, sales and personal income taxes, again missed their projections. Taxes on coal and other extracted natural resources continued to beat expectations, but not by enough to offset those shortcomings.
Manchin administration officials say they expected a rough February because of the same timing issues that boosted January's revenues. They also still believe the budget year will end June 30 around $200 million shy of the $3.7 billion forecast. Collections to date total $2.3 billion.
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