ODT Posts June 2024 PLF Distribution

According to the Office of Budget and Management (OBM), state tax receipts came in on estimate for the month of May. Preliminary data shows they were $17.3 million (0.7%) above estimate. OBM is continuing to state publicly that they are not concerned about the state’s financial picture – on both the revenue and expenditure side. With one month left in Fiscal Year 2024, overall fiscal year-to-date state tax revenues are down by $429.4 million (or – 1.7%).

The Ohio Department of Taxation (ODT) posted the June 2024 Public Library Fund (PLF) distribution of $45,091,175 – which is $160,830 (or + 0.36%) above ODT’s original estimate that was issued in July 2023; and $197,623 (or + 0.44%) above ODT’s updated estimate issued in December 2023.

Even though state tax receipts met their estimate in May, they still greatly missed their mark for the first half of 2024. This has led the PLF Calendar Year-to-Date to come in under estimate by $11.85 million so far.

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 June 2024 can be found on the OLC website.