Excess Dollars Transferred to General Revenue Fund
CHARLESTON, W.Va. – State Treasurer Larry Pack today transferred $20 million to West Virginia’s General Revenue Fund. This significant transfer stems from interest earnings accrued through the Office’s investments within the West Virginia Board of Treasury Investments (BTI).
The $20 million will be available for Fiscal Year 2026. Treasurer Pack hopes these dollars will be utilized to eliminate the state income tax on tips and overtime.
“This transfer is a testament to our administration’s prudent financial management and the outstanding performance of the BTI. These earnings directly benefit the people of West Virginia by strengthening our state’s financial foundation and supporting essential public services. I want to thank our staff for all their hard work as they continue to manage billions in assets for the people of West Virginia,” Treasurer Pack said.
The BTI, which manages approximately $10 billion in short-term investments on behalf of state agencies and local governments, has delivered exceptional returns throughout Fiscal Year 2025. The West Virginia Money Market Pool, the BTI’s flagship investment fund, achieved a money market yield of 4.92% for FY 2025, resulting in record earnings of more than $523 million for state agencies and local governments.
“We say it all the time, but West Virginia is truly in the best financial shape we have ever seen it. Our obligations are funded, record surpluses funnel in every month, and the state’s investments continue to see exceptional returns. The time is right to cut taxes. We are doing our part by returning money to the people of West Virginia,” Treasurer Pack said.
On September 30, 2025, the West Virginia Money Market Pool ranked first among a peer group of 142 prime money market funds, representing a total of $1.22 trillion in assets nationwide.
