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Ohio Governor John Kasich
Kasich Deposits
$235.1 Million in Rainy Day Fund
Ohio Ends FY2012 with a Balanced Budget and in Strong Fiscal Health
COLUMBUS – Today Gov. John R. Kasich announced that Ohio finished
FY2012—the first full fiscal year of his governorship—in strong fiscal
health, with a balanced budget and a $235.1 million deposit in the
Budget Stabilization Fund (BSF), Ohio’s rainy day fund. With
Kasich’s new deposit today, the state’s rainy day fund balance climbs
to $482 million, up from 89 cents when he took office.
“In 18 months Ohio went from an $8 billion shortfall and literally
pennies in its savings account to a balanced budget and almost half a
billion dollars saved up for a rainy day. Ohio cut taxes and
restored its fiscal health and job creators are taking notice.
Unemployment has fallen from 9.0 to 7.3 percent, more than 94,000 jobs
have been created and we’re fourth in the nation in job creation.
We’re headed in the right direction but we’ve got to keep going.
Too many Ohioans are still out of work. If we want to keep making
progress we’ve got to resist calls to slip back into the old Statehouse
ways of spending more than we should and kicking problems down the
road. It won’t happen on my watch, and with the continued strong
partnership of the General Assembly—and the continued hard work of the
people of Ohio—we’ll keep our state coming back,” said Kasich.
Ohio’s $26.4 billion fiscal year 2012 General Revenue Fund operating
budget closed on June 30. Final accounting totals and commentary
will be available July 10 in OBM’s Monthly Financial Report at
www.obm.ohio.gov.
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