May Revenue Spike 'Anomaly' According to Secretary Kiss
Tax collections for the month of May were stronger than expected, according to Revenue Secretary Bob Kiss.
In a press release, Kiss said general revenue collections were up 12 percent when compared to those collected in May 2015 and some $28 million above the month’s estimates.
But Kiss said the collections are an anomaly and not a sign that the state’s revenues are bouncing back from a long trend of decline. He attributed the increase in funds to measures taken this year by the governor and the Legislature.
In October, Gov. Earl Ray Tomblin announced mid-year cuts for state agencies of some 4 percent to reduce expenditures.
During both the regular and special sessions, lawmakers approved bills to divert some tax collections from special accounts to the general revenue fund and pull money from the Rainy Day Fund and other one-time accounts to pay the state’s bills through the end of the fiscal year on June 30.