Liz McCormick Published

State Officials: 2018 Budget Year to End in Surplus

Gov. Jim Justice during the State of the State Address in January 2018.

Gov. Jim Justice and his revenue staff say West Virginia is heading toward a budget surplus as the state nears the end of the 2018 fiscal year.

The governor and his revenue staff announced May’s revenue collections were more than $20 million above estimates. The entire month saw nearly $330 million in total revenue collection.

Several key collections came in above estimates, including personal income tax by $8.5 million, severance tax collections by nearly $4 million, and consumer sales tax by nearly $1 million.

General Revenue Fund collections remained on target in May, and Cumulative State Road Fund collections were $12.5 million above estimates.

Justice says the state is headed toward a budget surplus at the end of the month, and fiscal year 2019 looks promising.

Deputy Secretary Mark Muchow says a big reason for the increase in revenue is an increase in employment across the state of 9400 jobs since this time last year.