According to the Office of Budget and Management (OBM), state tax receipts came in $55.3 million (or – 2.1%) below estimate in June. Preliminary data shows that the state closed Fiscal Year 2024 with a $1.1 billion cash balance even though overall tax revenues came in $484.7 million (or – 1.7%) below estimates. The state was able to stay structurally balanced due to high investment earnings and low spending.

The Ohio Department of Taxation (ODT) posted the July 2024 Public Library Fund (PLF) distribution of $45,284,931 — which is $934,001 (or – 2.02%) below ODT’s original estimate that was issued in July 2023; and $869,749 (or – 1.88%) below ODT’s updated estimate issued in December 2023. OLC is continuing to monitor state revenues and we hope to have more information this fall as OBM updates their FY 2025 state revenue estimates for purposes of the next state budget.

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 2024 can be found on the OLC website.