West Virginia state government took in $45.5 million less in general revenue than expected last month, erasing what had been a slight surplus and leaving it $17.3 million short for the fiscal year, The Associated Press reports.
Nearly every other state has already wrestled with budget deficits this year. But February ending on a weekend likely blunted collections, a spokesman for Gov. Joe Manchin told AP.
"The state received $28 million from taxes on Monday, or $22 million more than estimated," the article said. "Matt Turner said that suggests that state revenues remain in the black by about $5 million. Monday's collections will count toward March's total."
But the administration also continues to see the ongoing recession reflected in below-estimate revenues from sales, use and income taxes, AP reports.
03 March 2009
West Virginia Slips into the Red
Posted by Lawrence Messina at 7:00 AM
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment