WVPA Sharing

‘Sweet spot’ as West Virginia’s Rainy Day Fund ends fiscal year with record numbers

By Steven Allen Adams, The Parkersburg News and Sentinel

CHARLESTON, W.Va. — West Virginia’s Rainy Day Fund, meant to help the state weather emergencies and severe drops on state tax revenue, ended the fiscal year in June with the most funding in the last 11 years, coming in at almost $1 billion.

According to the West Virginia Budget Office and the Governor’s Office, the Rainy Day Fund came in at $995.1 million as of June 30, marking the end of the 2021 fiscal year.

“The Rainy Day Fund — being topped where it is right now – is in phenomenal shape,” Gov. Jim Justice said last week. “We’re right in the sweet spot.”

The $995.1 million in the fund is the most the fund has in 11 years according to data on the Budget Office’s website. It’s also the most money in the fund since June 30, 2014, when the fund had $955.9 million…

To read more: https://www.newsandsentinel.com/news/local-news/2021/07/sweet-spot-as-west-virginias-rainy-day-fund-ends-fiscal-year-with-record-numbers/

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