West Virginia

West Virginia

Budget Cycle

Governor Submits Budget
January (2nd Wednesday)

Fiscal Year Begins
July 1
Governor Signs Budget 
5 days after legislative passage

Budget Links

FY2024 (enacted)
FY2024 (proposed)
FY2023 (enacted)
FY2022 (enacted)
FY2021 (enacted)
FY2020 (enacted)
FY2019 (enacted)

Enacted Budget – Fiscal Year 2024

West Virginia Governor Jim Justice signed the fiscal 2024 budget bill into law on March 17. Total appropriations from the general, lottery and excess lottery funds are $5.35 billion, an increase of 5.6 percent over fiscal 2023 appropriations. General revenue fund appropriations total $4.87 billion in fiscal 2024, an increase of 5.05 percent over fiscal 2023. General revenues are projected to total $4.88 billion in fiscal 2024, an increase of 5.35 percent over the fiscal 2023 general revenue estimate. The budget includes $1.165 billion in one-time spending that could be allocated only if the state closes fiscal year 2023 with surplus revenue. Fiscal 2023 revenue collections came in at $1.8 billion overestimate. Priorities funded from the surplus include $400.0 million for an income tax reserve fund; $67.0 million for tourism; $20.0 million for the governor’s nursing workforce expansion program; $282.0 million for deferred maintenance, jails and colleges; and $125.0 million for a new consolidated state lab.

Proposed Budget - Fiscal Year 2024

On January 11, West Virginia Governor Jim Justice released a budget for fiscal 2024 that proposes spending $37.92 billion in all funds, a decrease of 5.7 percent compared to fiscal 2023. The recommended budget calls for spending of $4.88 billion in general revenue funds, an increase of 5.35 percent over the fiscal 2023 enacted level of $4.64 billion. The general revenue fund estimate for fiscal 2024 is $4.88 billion, an increase of 5.35 percent over fiscal 2023. On December 31, 2022, the balance in the Rainy Day Fund was $425.9 million (7.6 percent of fiscal 2023 appropriations) and the balance in the Rainy Day Fund – Part B was $497.1 million (8.9 percent of fiscal 2023 appropriations); the Rainy Day Fund - Part B was established in 2006 with the cash balance of the state's Tobacco Settlement Medical Trust Fund. The fiscal year 2023 surplus is projected to be over $1.7 billion, which leaves room for other expenditures as the fiscal year progresses. From the general revenue fund recommended appropriations of $4.88 billion in fiscal 2024, the largest categories of spending are public education (44.5 percent), health and human resources (23.8 percent), homeland security (10.3 percent), higher education (9.3 percent), and judicial (3.2 percent).

Proposed Budget Highlights 

The governor opted for a conservative, cautious revenue projection for fiscal 2024 and called for development of an essentially flat budget. The proposed budget meets this goal with a few targeted investments, with priorities also highlighted in the governor’s State of the State address.


Investing in Employees

  • The budget provides approximately $115.0 million in general revenue and lottery funding for an average 5 percent salary increase for state employees, including teachers and service personnel.
  • The proposed budget funds 100 percent of required retirement contributions.
  • The budget includes $40.0 million in general revenue for increased subsidies to the Public Employees Insurance Agency to increase reimbursement rates with no employee premium increases.

Budgetary Adjustments

  • $35.0 million for a K-12 school aid formula increase.
  • $5.0 million for local economic development assistance grants.
  • $12.2 million for increased state trooper pension contributions per the actuary.
  • $42.5 million in public education school building authority.
  • $5.1 million for improvements and maintenance at state parks and lodges.

Priorities in the State of the State Address

  • $10.0 million set aside in the emergency food bank fund for pantries to access when needed.
  • $677.0 million in federal American Rescue Plan Act funds for the economic enhancement and impact fund ($500.0 million) and water/sewer projects ($177.0 million).
  • $20.0 million increase for the Governor’s Nursing Workforce Expansion initiative.
  • $75.0 million to address deferred maintenance at higher education institutions.