31 July 2009

Manchin to Discuss W.Va.'s Fiscal Health (Updated)

Gov. Joe Manchin has set a Friday morning press conference to talk about the financial condition of West Virginia state government, The Associated Press reports.

(Update: Manchin has proposed a $500 bonus-like payment to each of the state's 51,000 or so full-time employees, fueled by unexpected lottery and general revenue surpluses that total $65 million. But he's also socking away half the funds to help with future budgets, while also seeking 5 percent cuts from state agencies during the next budget year. AP has details, as does MetroNews and WOWK-TV.)

With the recession continuing to wreak havoc on state budgets across the country, West Virginia endured a tight fiscal year during the 12 months that ended June 30. Manchin officials dampened their revenue expectations for the 2009-2010 year, and lawmakers pared down the new budget as a result.

Manchin offered no details before his press event. The Associated Press reported some silver linings to the state's financial picture when the budget year ended -- while adding that that continuing economic troubles and other factors "overshadow each fiscal indicator."

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