Justice: Review Shows $120M to Close Deficit

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CHARLESTON, W.Va. (AP) – Gov. Jim Justice says his administration’s review of state finances has identified about $120 million available to help close the budget gap in the current fiscal year.

The first-year Democrat says that includes using about $60 million from special revenue accounts and $60 million in re-appropriated funds, meaning unspent money from the last five years for the governor’s office, Legislature, insurance commissioner and other state agencies.

He previously proposed using money from the state’s rainy day fund.

The deficit for the current year, which ends June 30, has been estimated at $123 million.

The administration and legislators are also trying to find ways to close an estimated $500 million deficit for the next fiscal year.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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