COLUMBUS, Ohio — The Ohio Office of Management and Budget has released the state’s financial report for November, showing revenues continuing to outperform expectations.
According to the newly released figures, total state revenues are now $1.8 billion above estimates for the fiscal year to date. A significant driver of that growth is personal income tax collections, which have come in just over five percent higher than projected.
State budget officials say the trend reflects steady economic activity and stronger-than-anticipated withholding and tax return payments. The surplus provides lawmakers with a clearer picture heading into the second half of the fiscal year, as discussions continue around spending priorities and potential adjustments tied to the next budget cycle.
More detailed revenue categories will be reviewed during upcoming legislative committee hearings.
