The West Virginia Budget
In January, Governor Wise presented his annual proposal for West Virginia’s budget for fiscal year 2003. West Virginia’s funding structure is unique among Fourth District states because more of its budget dollars come from federal funds than from the general fund. Use of money from the state road fund and special revenue fund (which combined are about 40% of all state revenues) is completely restricted, while use of the dollars in the state’s general fund, which are derived from income and sales taxes on individuals and businesses, is completely discretionary. Although most federal funds are restricted, some of the federal funds for social welfare improvements are not associated with specific programs and can be allocated by the state legislature.
Suggested citation: "The West Virginia Budget," Federal Reserve Bank of Cleveland, Economic Trends, no. 02-03, pp. 15, 03.01.2002.