Strong End To Fiscal Year For Ohio Finances
July 9, 2019 11:23AM EDT
(ONN) – The state says Ohio finished in strong financial position at the end of the most recent fiscal year, a good sign for the upcoming two-year budget.
The Office of Budget and Management says state tax collections topped expectations by $651 million, or 2.9 percent, for the fiscal year ending in June.
Overall collections stood at $34 billion for fiscal year 2019.
Collections of both income tax and sales tax were strong.
Ohio lawmakers were unable to finish work on the state’s new two-year budget at the end of June and instead passed a bill providing temporary funding for 17 days.
