The Nation : W. Va. Runs Out of Funds

The state of West Virginia postponed $50.8 million in payments to several state agencies, including the welfare and education departments, after finding it had just $13,000 available in the treasury. The state expects to make a $15-million state payroll payment due Dec. 16 but other payments are being delayed indefinitely, said Don Adams, chief clerk in the state auditor’s office. Recently released figures show that the state has collected $36.8 million less than expected in taxes since July 1. West Virginia has been hard hit by layoffs and shutdowns in the coal industry, as well as by economic problems in the steel and chemical industries.