Tim Keen

photo of Ohio Statehouse
STATEHOUSE NEWS BUREAU

For the second month in a row, the state collected more income taxes than forecasts suggested it would. Statehouse correspondent Karen Kasler reports that’s quite a turnaround from last year, when the two-year state budget had to be trimmed as income taxes fell nearly $850 million short.

  

Personal income tax collections were up nearly 1 percent last month, and that means the state is running almost 3 percent above where it thought it would be in that category.

Ohio tax collections for the fiscal year that ended last month were more than $850 million off estimates. But the state ended the year with a balance of nearly $171 million. Statehouse correspondent Karen Kasler reports almost a third of that was transferred from 15 pools of money held within various state agencies.

photo of Tim Keen
OHIO OFFICE OF BUDGET AND MANAGEMENT

The state budget director took a lot of heat for tax collections that came in nearly a billion dollars below his projections.  That office is trying to make sure it doesn’t miss with its forecast for the new budget. But there are still a lot of economic uncertainties to deal with.

Ohio Overcomes Short Tax Collections with Surplus

Jul 9, 2017
photo of Tim Keen
OHIO OFFICE OF BUDGET AND MANAGEMENT

In spite of tax collections coming in short for nearly all of the fiscal year that just ended, the state says it ended the year with a surplus.

Budget Director Tim Keen had predicted several times a positive ending balance for the fiscal year. And the state finished with what he wanted, a small cushion of just under $171 million. Keen says even though tax collections were nearly a billion dollars below estimates, a carryover balance from the start of the year helped.

The House overturned 11 of the 47 vetoes Gov. John Kasich issued on the state budget – the first time in 40 years lawmakers have overridden a budget veto in Ohio.

But Kasich is warning lawmakers their decisions have consequences. 

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