State Revenues and PLF Surge
The Ohio Department of Taxation (ODT) posted the May 2022 Public Library Fund (PLF) distribution of $57,624,451 — which is $18 million (+ 45.5%) above ODT’s original estimate that was issued in July 2021. While May is usually a high distribution month due to April income tax filing, this far exceeds anything we have seen in recent years.
According to the Office of Budget and Management (OBM), overall state tax receipts for the month of April came in $1 billion (+ 45.6%) over estimates. So far, State Fiscal Year 2022 tax collections are exceeding estimates by $2.5 billion. This means the legislature and the state are continuing to see a large surplus with only 2 months left in the fiscal year.
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 May 2022 can be found on the OLC website.