Rainy Day Fund

By: Matthew

The governor of Ohio just announced that there will be $700 million in cuts in state spending.

Most of that to school systems. In the same breath, without missing a beat, told us he wouldn’t touch any of the 2.7 Billion in the rainy day fund.

Is it sunny and warm where you are or gray gloomy and rainy??

Added by Administrator from the News-Herald, May 7, 2020:

A day after DeWine announced plans to cut $775 million from state spending over the next two months, his budget director outlined more details about those plans.

While the biggest chunk will come from a $355 million reduction for schools, lower income districts were cut less per-pupil than those that are able to raise more money through property taxes, said Kimberly Murnieks, DeWine’s budget director.

The nearly $212 million cut from Medicaid will mainly come from administrative cuts and eligibility for health-care services will not be reduced, she said, citing increased the need because of the pandemic.

Colleges and universities will see a nearly 4% cut. That amounts to a $15 million for Ohio State University and an $8 million reduction for the University of Cincinnati.

Overall, tax collections for Ohio in April were down 35%.

Meanwhile, commissioners in a Republican-dominated county in southwest Ohio are shunning $2.4 million in federal coronavirus relief funding.

Warren Commissioner David Young, a Republican, told The Cincinnati Enquirer he didn’t want “to be part of the feeding frenzy.” The county’s conservative commission also rejected federal stimulus funds under the Democratic Barack Obama administration.



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