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West Virginia Treasurer Finds Funds to Close Budget Gap

January 13th, 2020 by WCBC Radio

CHARLESTON, WV – Gov. Jim Justice and West Virginia State Treasurer John Perdue held a joint press conference today, announcing that Treasurer Perdue’s office is transferring an additional $20 million to the state’s General Revenue Fund for Fiscal Year 2020.

“What I love is the fact that this is a great example of two people, across the aisle from one another, really working together as West Virginians first and foremost,” Gov. Justice said. “Treasurer Perdue has done a heck of a job and he’s a good man. We should all be proud of all the work he’s done and today is just the latest example.”

“Thanks to a combination of conservative money management, efficient office practices, good interest rates, and successful legal settlements, I am pleased to announce my office will move a total of $20 million to the state’s General Revenue Fund to help with the current fiscal year budget,” Treasurer Perdue said. “I am excited to be in a position to provide a boost to the General Revenue Fund mid-fiscal year, and I am hopeful it will be used to support some of our state’s most imminent needs.”

 

 

The Treasurer proposed the one-time transfers of $10 million from Unclaimed Property and $10 million from Banking Services to help close a current budget gap for FY2020.

Today’s two transfers are in addition to an already-budgeted $7 million transfer to General Revenue from the Unclaimed Property Fund, which will bring the total to $27 million transferred from the Treasurer’s Office to General Revenue in FY2020.

“It’s a good day in West Virginia. We’re having a lot of good days now,” Gov. Justice said. “Our numbers have been coming in a little bit better, a little bit better, a little bit better. And now, here’s some great big help from our Treasurer. We just want to keep building on that and keep trending in the right direction.”

 

 

 

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