Surpluses Chip Away at a Mountain of Liabilities

Ackerman, Andrew
March 2006
Bond Buyer;3/30/2006, Vol. 355 Issue 32350, Special section p69
Trade Publication
The article provides an overview of the fiscal condition of West Virginia. The ability of West Virginia to pay its unfunded pension liabilities in 2005 was attributed to budget surpluses. The state has the policy of using excess funds for long-term liabilities rather than increasing government programs or reducing taxes. The state has appropriated about $280 million in surplus funds to smaller pension fund for state troopers. Meanwhile, the state has changed the language in its tobacco settlement trust account to say that it could be used like a rainy-day fund.


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