W.Va. Tax Revenues Limping to Budget Year's End

By: The Associated Press Email
By: The Associated Press Email

CHARLESTON, W.Va. (AP) -- Officials say West Virginia will almost certainly end its budget year in the red. But they've also taken steps to avoid a deficit.

General tax collections faltered again in May. They totaled $322 million, falling short by more than $25 million.

The budget year ends June 30. So far, revenues are $21 million or 0.5 percent below estimate. A slump in coal production has played a major role.

This month's target is $366 million. But officials say June revenues can miss their mark by up to $7 million and still keep the $4.1 billion general revenue budget balanced.

The Legislature agreed in April to cut ongoing spending by $28 million, at Gov. Earl Ray Tomblin's request. The state also exhausted $45 million in reserves to pay income tax refunds.

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