W.Va. Expected to End Fiscal Year Without More Cuts
State officials say West Virginia is expected to end the fiscal year without the need for more budget cuts or changes.
April's revenue collections of $564.8 million topped estimates by 4.8 percent.
Department of Revenue Secretary Bob Kiss tells media outlets that he believes the state is on course to end the fiscal year on June 30 with a balanced budget.
Collections of the business and occupation tax, personal income tax and insurance tax all exceeded estimates in April. These tax collections offset declines in revenue from the coal severance tax, corporate net income tax, and sales tax.
Deputy Revenue Secretary Mark Muchow says decreases in energy prices and production were factors in the drop in coal severance tax revenue.