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West Virginia ends fiscal year with budget surplus of more than $450 million

By Charles Young, WV News

CHARLESTON, W.Va. — West Virginia’s economy is doing “off-the-charts” well, Gov. Jim Justice said Thursday.

The state ended the most recent fiscal year with an overall budget surplus of more than $450 million, Justice said.

“In the state of West Virginia, in the (fiscal) year that we just ended yesterday, June 30, we came in at $458.1 million above budget,” he said. “We’re in great shape in West Virginia. We absolutely have handled this pandemic, and you have done wonderful West Virginia.”

Justice went on to detail gains made in individual revenue categories, noting the increases occurred amid the economic difficulties of the COVID-19 pandemic.

The state’s consumer sales tax revenue for June came in at 9.1% above the revenue department’s estimate. For the year, the tax came in 10.9% above the prior year…

To read more: https://www.wvnews.com/news/wvnews/west-virginia-ends-fiscal-year-with-budget-surplus-of-more-than-450-million/article_f60f8709-8fa0-5417-9051-b4636a8341f4.html

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