WV Revenue Funds
Revenues collected for State Government operations are deposited into various funds as provided by statute and the Constitution. Many of these funds are dedicated for specific purposes. They are carried in separate funds to be expended only for the purpose authorized by law. These funds include the general revenue fund, state road fund, federal funds, and various other funds designated as special revenue. Revenues which are not dedicated for specific purposes are deposited into the General Revenue Fund and appropriated by the Legislature for the operation of the various departments, schools, and institutions.
General Revenue
The General Revenue Fund consists of taxes, fees, and licenses that are dedicated to the state fund or are not specifically directed to special or other dedicated purposes. The General Revenue Fund (or General Fund) consists primarily of the major tax revenue of the state such as Consumer Sales Tax and Use Tax, Personal Income Tax, Business and Occupation Tax, Corporate Net Income Tax/Business Franchise Tax, Tobacco Products Tax, and Severance Tax. The remaining portion of the General Revenue Fund is a combination of lesser taxes along with fees such as Liquor Profit Transfers and transfers from lottery revenues.
Federal Revenue
Federal Funds are received directly from the federal government and may only be used for the specific purpose for which they are intended. Federal Funds consist of any financial assistance made directly to any state department/
bureau/commission/division by the United States government, whether a loan, grant, subsidy, augmentation, reimbursement, or any other form of such assistance, including federal matching funds.
Special Revenue
Consist of individual accounts created for a specific purpose and the revenues may be expended only for that specific purpose unless otherwise directed by the Legislature. These accounts generate revenue derived from permits, licenses, and established rates or fees for services provided either to the public, other state
agencies, or non-State governmental entities.
Highway Fund
The Highway Fund consists of revenues from gasoline and other motor fuel excise and license taxes, sales tax, motor vehicle registration and license tax, and all other revenue derived from motor vehicles or motor fuel that are solely dedicated to this fund. The highway fund collections reflect what is in the annual State Dollar Report published by the State Auditor annually.