West Virginia Rainy Day Fund

Nearly $37 million in general revenue surplus money will be given to West Virginia’s Medicaid program as well as the state’s Rainy Day emergency reserve fund.

Gov. Earl Ray Tomblin expects to take about $50 million more from reserves to cover a pressing budget hole.

The Democrat said Wednesday that the Rainy Day Fund money would help West Virginia get through the current fiscal year ending June 30. Tomblin used reserves and cuts to cover a 2016 gap of about $353 million.

Dave Mistich / West Virginia Public Broadcasting

Standard & Poor's has dropped West Virginia's bond rating amid the coal industry's downturn.

The agency announced the drop Thursday from AA to AA-minus. It also said the rating's outlook is stable.