State revenues are continuing to exceed expectations. The Ohio Department of Taxation (ODT) posted the July 2023 Public Library Fund (PLF) distribution of $47,733,557 – which is $1 million (+ 2.14%) above ODT’s original estimate that was issued in July 2022; and $2.6 million (+ 5.84%) above ODT’s updated estimate issued in December 2022. The PLF Calendar Year (CY) 2023 year-to-date total is $301,179,620.

The July distribution is the first distribution for Fiscal Year (FY) 2024. As a reminder, the PLF percentage is now set in permanent law at 1.7% of the state’s General Revenue Fund (GRF).

As expected, the state ended FY 2023 on June 30 with revenues almost $1 billion over estimate. According to the Office of Budget and Management’s (OBM), overall state tax receipts were $994.2 million or 3.6% above estimate for the fiscal year.

As mentioned previously, OLC will work with our consultant, Fleeter & Associates, to update the PLF distribution estimates for the remainder of CY23.

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 2023 can be found on the OLC website.