Tax revenues up for the state in May
In March and April tax revenues in West Virginia fell below estimates, but May rebounded. General revenues were at $328 million last month which which is $12 million above projections. The general revenues fund payrolls for most state agencies and provide money for programs. The state is hoping for a $100 million surplus this year, and the May boost helps, but it's not enough to guarantee the surplus goal. The fiscal year ends June 30, and it's looking like the surplus may be between $80 million and $90 million. More would help with the state's main emergency reserve fund and give $65 million to the Medicaid budget that begins July 1.