State Government Ends Q1 with $71M Surplus

In its September report, the Ohio Office of Budget and Management said state revenue for the first quarter of the fiscal year mostly tracked agency estimates, ending Q1 with a $71 million surplus. However, September spending from the general revenue fund (GRF) exceeded estimates by about 1% due in large part to property tax reimbursements.

Personal income tax receipts for September totaled $930.9 million, which was $33.1 million (3.7%) above estimates. September non-auto sales and use tax collections were $729.0 million, which was $6.9 million (0.9%) below the forecast. Year-to-date, non-auto sales tax revenue has exceeded estimates by $12.1 million (0.5%). 10/11/2019