03 December 2008

W.Va. Reports Revenue Decline for November

Unlike most other states, West Virginia expects to ends its current budget year with more than enough general revenue to cover spending. Since the fiscal year began July 1, general revenue has exceeded estimates by $72 million.

November saw a downturn, however, with revenues missing projections by $27 million. But state officials told The Associated Press "an economic recession is not to blame."

"The state closed its books on Nov. 26, before the extended holiday weekend, but most businesses had until Sunday to pay what they owed," the article said. "As a result, those last-minute payments will show up for December."

The State Road Fund also missed its revenue mark for the month, but for the same reason, officials said.

Others reporting on the revenue figures include The Charleston Gazette and MetroNews.

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