Investor Presentaiton
State of West Virginia - Executive Budget
• Challenging budget years in FY 2017 - FY 2021 (except FY 2019 - revenues were significantly higher than estimated)
• COVID-19
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Despite a less active economy due to COVID-19 restrictions, FY 2021 revenues are still above estimate at the end of January
2021.
FY 2021 Lottery and Excess Lottery FYTD revenues are running about 9.5% ahead of December 31, 2020 FYTD estimates.
. Ended FY 2020 with a General Revenue surplus of $28 million, with $14 million transferred to Rainy Day, $6.0 million to fund
General Revenue Surplus Section appropriations in the FY 2021 Budget Bill and $8.1 million available and proposed for
supplemental appropriation.
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FY 2021 General Revenue cash flow remains strong - we continue to pay our bills on time.
• The FY 2022 General Revenue Estimate is noticeably less than the current fiscal year estimate.
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FY 2022 General Revenue Estimate of $4,569,616,000 vs. FY 2021 General Revenue Estimate was $4,574,514,000.
Governor recommends a balanced FY 2022 budget.
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FY 2022 Total General, Lottery and Excess Lottery of $4,920,306 vs FY 2020 total of 4,977,579.
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PEIA fully funded with no programmatic changes.
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No Rainy-Day funds are used to balance FY 2022.
• Rainy Day funds continue to be among the best in the country - over $930 million as of January 31, 2021,
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FY 2022 proposed expenditures are relatively flat with few improvements.
• 100% of Required Retirement Contributions are funded in the FY 2021 budget.
• Includes Governor's commitment to fund a Veterans' Nursing Home in Beckley, WV
o A one-time FY 2022 budget bill appropriation of $7 million.
o A one-time Surplus General Revenue supplemental appropriation of $8.5 million.
• Includes $2 million additional funding for Senior Nutrition to maintain current increased service levels.
• Includes 15 million additional funding for the Milton Flood Wall.View entire presentation