SBA budget cut by $8 million in coming fiscal year

You are here

SBA budget cut by $8 million in coming fiscal year
By Jeff Jenkins, WV MetroNews

 CHARLESTON, W.Va. — A lot of state agencies are taking a hit in the next state budget including the state School Building Authority which lost $8 million in funding in the budget formation.

SBA Executive Director David Sneed said Gov. Earl Ray Tomblin and state lawmakers needed the money to help balance the state budget in a tight budget year that will begin July 1.

“There will be some projects that won’t be funded this year, but hopefully things will be back to normal next year,” Sneed said.

The $8 million cut will take $2 million from the SBA’S Major Improvement Projects fund and $6 million from its needs-based projects. Sneed said MIP will still have about $5 million and there will be $50 million available in the needs-based account when projects are considered for funding in December.

The Fayette County school system is hoping voters approve a $39 million school bond issue in a June 13 vote. The county will then ask the SBA to allocate $25 million more to complete a $66.5 million construction plan. Sneed said if the SBA agrees to the funding, it would have to come over a few years.

“The authority has been very supportive of local bonds. There are occasions where we can fund projects over a couple of years,” Sneed said.

The SBA meets Monday in Charleston with a generally light agenda.