The Ohio Department of Taxation (ODT) posted the July 2020 PLF distribution of $38,541,614 – which is $1.5 million (- 3.68%) below ODT’s original estimate that was issued in July 2019. Surprisingly, the actual July distribution came in + $4,985,168 (+ 14.86%) above ODT’s latest estimates that were just issued at the end of June.

A look at the PLF distribution for the past three years and a link to an Excel spreadsheet listing each county’s distribution total for July 2020 can be found on the OLC website.

According to the Office of Budget and Management (OBM), overall state tax receipts for the month of June came in at $2.23 billion and were just $50.5 million (or – 2.2%) below estimates. The state closed out Fiscal Year (FY) 2020 on June 30 in a much better position than expected and did not have to utilize the Budget Stabilization Fund (BSF). However, the state plans to use the BSF/Rainy Day Fund in FY 2021.

In an interview with reporters on July 7, OBM Director Kim Murnieks said, “We were able to get through this final quarter of FY 2020 without having to access it. It is likely that we will need to rely on that source in FY 2021 and even into the next biennium. Economists are projecting a protracted recovery; we’re not expecting to rebound quickly.”