-
Headlines
Needy States Use Housing Aid Cash to Plug Budgets
Only 27 states have devoted all their funds from the banks to housing programs, according to a report by Enterprise Community Partners, a national affordable housing group. So far about 15 states have said they will use all or most of the money for other purposes.
-
Headlines
Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
-
Headlines
Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
-
Headlines
Local and state governments look for creative ways to fund transportation projects
Constrained budgets and deficit reduction efforts mean federal fewer dollars for infrastructure. As such, the burden is shifting more to state and local governments, which are being forced to find creative funding solutions.
-
Research
"GASB Won't Let Me" - A False Objection to Public Pension Reform
Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.
- View All News Stories
Budget timeframe: Biennial
Fiscal Year begins: July 1
Gov. John Kasich
Office of Governor John Kasich
77 South High Street
30th Floor
Columbus, OH 43215-6117
Phone: (614) 466-3555
Fax: (614) 466-9354
http://governor.ohio.gov/
Timothy S. Keen , Director
Office of Budget & Management
30 E. Broad Street, 34th Floor
Columbus, OH 43215-3457
Phone (614) 466-4034
www.ohio.gov/obm
obm@obm.state.oh.us
2012 Legislative Calendar: Regular Session convenes January 3, meets throughout the year.
Legislative Budget Leaders:
Rep. Ron Amstutz (R), Chair, House Finance and Appropriations Committee, district3@ohr.state.oh.us (614) 466-1474
Sen. Chris Widener (R), Chair, Senate Finance Committee, SD10@senate.state.oh.us (614) 466-3780
Sen. Shannon Jones (R), Vice-Chair, Senate Finance Committee, SD07@senate.state.oh.us (614) 466-9737
Rep. Peter Beck (R), Chair, House Ways and Means Committee, district67@ohr.state.oh.us (614) 644-6027
Rep. Mike Dovilla (R), Vice-Chair, House Ways and Means Committee, district18@ohr.state.oh.us (614) 466-4895
Sen. Tim Schaffer (R), Chair, Senate Ways and Means and Economic Development, SD31@senate.state.oh.us (614) 466-5838
Sen. Bill Beagle (R), Vice-Chair, Senate Ways and Means and Economic Development, SD05@senate.state.oh.us (614) 466-6247
The current state budget can be found here.
Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2011 Comprehensive Annual Financial Report compiled by the state government, and click here for information on the state's pension liabilities.
Ohio's "balanced budget" requirements come in the forms of a limit the issuance of debt and an appropriations cap that is tied to the actual revenue raised during previous years. Section 107.33 of the State law creates a cap on appropriations that is the previous year's revenue, adjusted for inflation and population growth, or the previous year's revenue plus 3.5%, whichever is greater. Article 8, Sections 1 and 2 of the 1851 Constitution permit the state to contract debts, to supply casual deficits or failures in revenues, or to meet expenses not otherwise provided for as long as those costs do not exceed $750,000. Title 1, Section 126.05 of the State law requires the director of the budget to notify the governor each month on the status of available revenue receipts and balances. The governor must then prevent expenses of state agencies from exceeding those revenue receipts. Ohio law forbids the carrying over of a deficit from one year to the next.
Even though Ohio has specific balanced budget requirements, the State's Budgetary Comparison Schedules indicated budget deficits (negative net transactions) for the three years studied.
Budgetary information within the Ohio CAFR is presented in a consistent manner all three years and easy to locate. Specific information is also presented efficiently (inclusion of "total" columns). The State's governmental funds include the General Fund and 15 special revenue funds, 23 debt service funds, and 10 capital projects funds. The State budgets on a modified cash basis of accounting. The General Fund, and 11 out of 15 special revenues funds, 9 out of 23 debt service funds, and 9 out of 10 capital projects funds are budgeted. Most but not all funds are budgeted. Revenues are budgeted only for the General Fund. This results in very large gap between actual and budgeted figures. [from the Institute for Truth in Accounting]
Find the state's bond ratings here.
|
|
 |
-
Solutions: Ohio
Solving Our State Fiscal Challenges
Advocating for collective bargaining reforms because unless base compensation adjustmentst happen, taxes will have to go up.
-
Solutions: Ohio
Legislators should add an umbrella to
Ohio would be well advised to give itself more cushioning that it currently has for economic hardship. After all, when it rains, it often times pours. It's much better to have an umbrella on hand than to stand by and get soaked.
-
Solutions: Ohio
Ten Ideas to Fix Cleveland's Schools
Schools should receive revenue in the same way that the district receives revenue, on a per-pupil basis reflecting the enrollment at a school and the individual characteristics of students at each school.
-
Census state pension survey 2007-1010
The U.S. Census collects key data from selected state and municipal pension funds every year. State Budget Solutions consolidated the data for the 222 largest state administered defined benefit pension funds from fiscal years 2007 through 2010 to present an overview of each state's pension funds. See how your state is doing.
-
Latest studies show growing pension peril
Recent studies by the U.S. Census Bureau, GAO, Federal Reserve Bank of Cleveland and the Harvard Kennedy School detail the continued deterioration and chance of failure of public pension systems within the overall local and state government fiscal crisis. Read these studies and be aware of the extent of this pressing problem.
-
"GASB Won't Let Me" - A False Objection to Public Pension Reform
Pension reform is a separate issue from amortization. These two issues have been conflated by those invoking the GASB proviso for closed DB plans, but this has only sown confusion. This is clearly demonstrated when the reform is structured with amortization payments on total payroll. In this way, the growth in the base for amortization payments is unaffected by the reform, so there is no policy reason for changing the schedule of these payments. The funding schedule for amortization is a red herring, irrelevant to the fundamental policy decision for pension reform. Amortization pays for past debts; pension reform lays a path toward a responsible future.
-
OPINION
Public pension 'best practices' omit 1 thing: How do we pay benefits?
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
-
OPINION
COMMENTARY Municipal, state workers should take their pension money and run, fast
Public employees should take their pension money now and run to avoid risk of getting reduced benefits - or nothing - in the future. It's the best deal for them and for taxpayers. A growing chorus of credible voices including the Government Accountability Office, a Federal Reserve bank and now the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government confirm state and local government finances are "spiraling out of control" and even draconian reforms only make it "more likely" that future benefits will paid in full.
- View All Pensions
-
OPINION: Pensions
Public pension 'best practices' omit 1 thing: How do we pay benefits?
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
-
OPINION: Pensions
COMMENTARY Municipal, state workers should take their pension money and run, fast
Public employees should take their pension money now and run to avoid risk of getting reduced benefits - or nothing - in the future. It's the best deal for them and for taxpayers. A growing chorus of credible voices including the Government Accountability Office, a Federal Reserve bank and now the Harvard Kennedy School Mossavar-Rahmani Center for Business and Government confirm state and local government finances are "spiraling out of control" and even draconian reforms only make it "more likely" that future benefits will paid in full.
-
BLOG: Pensions
COMMENTARY: This plan could save municipal, state workers' pension checks
Hey, young public employees, what are you going to do when your pension checks bounce after you paid in for decades? That is what will happen in many - maybe all - states and municipalities sooner or later if they do not reform right now. If you want to see the future, just look at Illinois. One citizen there did, and came up with a real reform plan that might work.
-
BLOG: Pensions, Federal Government Impact
COMMENTARY: Fed screams softly in warning about public pension crisis
This is what it sounds like when the Federal Reserve Bank screams: "Much has been written about the various headwinds restraining economic activity over the near term. However, our economy also has other headwinds to confront over the medium- to-longer-term. ... the finances of some state and local governments are also under stress and in need of serious adjustments." - Federal Reserve Bank of Cleveland President Sandra Pianalto
-
BLOG: Pensions
The Morality of Pension Forfeiture
A string of recent high profile public official corruption cases have brought the topic of pension forfeiture to the debate roundtable.
- View All Blog & Opinions
