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West Virginia state auditor reports cost savings, new income saved state $10 million

By PHIL KABLER

Charleston Gazette-Mail

State Auditor J.B. McCuskey

CHARLESTON, W.Va. — State Auditor J.B. McCuskey said Friday that between internal cost efficiencies, increased income from enhanced collections of Securities Commission fees and an enhanced Purchasing card vendor contract, the office saved the state more than $10 million last year.

“We’ve somewhere between $10 million and $11 million to the good as far as state dollars,” he told the House Finance Committee.

McCuskey said the commission increased registrations for securities broker/dealers, mutual funds and investment advisers by more than 14,000 in 2018, providing an additional $5.5 million in revenue from registration fees.

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