Ohio’s Tax Revenue Fund Hits $3.3 Billion

Ohio’s General Revenue Fund (GRF) reached a record high in April with $3.3 billion, according to the state’s latest monthly financial report. The GRF, which houses most tax revenues to fund government operations and public services, eclipsed the previous record of $2.9 billion, set in May 2021.

April revenues exceeded the monthly estimate by $1 billion (45.6%), and fiscal year-to-date tax revenues exceeded estimate by $2.5 billion (12%). The personal income tax drove the month’s historic collection, generating $1.9 billion and exceeding the forecast by $894.7 million (89.2%). 5/12/2022