For Immediate Release:
May 6, 2021
Office of Budget and Management Releases Preliminary April Revenue Data
(COLUMBUS, Ohio) -- The Office of Budget and Management (OBM) released April 2021 preliminary revenue data. Total General Revenue Fund tax receipts finished the month $337.7 million (-12.8%) below the budgeted estimate.
Non-Auto Sales Tax collections were $189.4 million (22.9%) above the monthly estimate.
Auto Sales Tax collections were $38.6 million (23.5%) above estimate in April, the eleventh straight month in which that revenue category has exceeded estimate.
Personal Income Tax collections were $554.9 million (-39.0%) below estimate for the month. This negative variance was driven by the delay in the tax filing deadline from April to May. We expect to see a corresponding positive variance in this category for the month of May.
The Commercial Activity Tax was above the monthly estimate by $4.0 million (5.7%) allowing Ohio to continue to rise above the estimate for the fiscal year-to-date.
“OBM continues to closely monitor state revenues and economic indicators during this final quarter of our fiscal biennium. Our vigilant COVID mitigation strategies and our continued strong vaccine roll-out to all communities and neighborhoods saves lives while strengthening our economy. Healthy people and renewed communities are crucial for a vibrant Ohio,” said OBM Director Kimberly Murnieks.
A more detailed explanation of this data will be included in the Monthly Financial Report, which will be posted on the OBM website on Monday, May 10.