West Virginia Ends Fiscal Year with Small Surplus

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CHARLESTON, W.Va. (AP) – A hiring freeze and budget cuts have helped West Virginia end the fiscal year with a small surplus.
    
The Department of Revenue says general revenue collections for the fiscal year that ended Tuesday were about $60 million below estimates.
    
The department says in a news release that a mid-year budget cut and a hiring freeze saved the state more than $38.9 million.
    
Gov. Earl Ray Tomblin’s administration used about $12.6 million in unspent funds in state agency accounts, a $7.5 million supplemental appropriation from the Legislature and other budget adjustments to close the gap. The state ended the fiscal year with a $1.3 million surplus.
    
Deputy Revenue Secretary Mark Muchow tells media outlets that the shortfall is attributable to a drop in coal and natural gas prices.

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